Auto Industry Pension Task Force Sends Letter to PBGC pn Delphi Pension Details
March 7, 2013
Congressman Mike Turner, Co-Chair of the Auto Industry Pension Task Force was joined by fellow Task Force members in writing to request that the Pension Benefit Guaranty Corporation (PBGC) provide them with an update on the status of final benefit determinations for the Delphi Salaried pension plan.
"As you know, over 20,000 salaried retirees had their hard-earned retirement drastically reduced when the PBGC terminated their pensions in July 2009....For too long, these retirees have withstood undue delays on the part of the PBGC to produce this determination," wrote the lawmakers.
Since having their pensions slashed in 2009, the PBGC has not yet produced final benefit determinations for plan participants. Delphi Salaried Retirees are entitled to being informed of final benefit determinations for the benefits they earned.