Should Congress restore Delphi retirees' terminated pensions?
This bill restores the full vested monthly benefits for eligible participants of certain pension plans that were sponsored by Delphi Corporation and terminated as a result of General Motors' bankruptcy in 2009. The bill establishes and provides appropriations to a fund for the payment of these benefits and specifies how the lump-sum payments are treated for tax purposes.
Sponsor: Representative Daniel T. Kildee (Democrat, Michigan, District 5)
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Opponents say
• "If Congress gives special treatment to these plans covered by today’s bill, the other 5,000 single-employer plans also managed by the PBGC will pressure Congress to do the same for them. Is Congress then expected to top-up every future terminated plan? These are serious implications that cannot be ignored. " Source: Representative Fred Keller (Republican, Pennsylvania, District 12)
Proponents say
• "If you work hard and play by the rules, you should be able to retire with dignity,” said Congressman Kildee. “The government rescued GM but left these workers hanging. That’s why what happened to the Delphi Salaried Retirees is such an injustice. These hardworking retirees have waited too long to receive the benefits they earned, and I am proud to introduce legislation today to finally deliver." Source: Rep. Daniel T. Kildee (Democrat, Michigan, District 5)
• "The Delphi Salaried Retirees were robbed of their hard-earned benefits when the Pension Benefit Guaranty Corporation terminated their pension plans in 2009. Today, we stand united in demanding moral and legal justice for the thousands of retirees who have yet to see some or all of their pensions. Congress must pass the Susan Muffley Act so we can finally repay these men and women what they are rightfully owed." Source: Representative Michael Turner (Republican, Ohio, District 10)
