Congressman Tim Ryan Urges President Trump to Support Delphi Salaried Retirees
Youngstown, Ohio — Today, Representative Tim Ryan (OH-13) joined Reps. Dan Kildee (D-MI) and Mike Turner (R-OH) in urging President Donald Trump to support Delphi Retirees and to do all that he can to ensure that a settlement in the case is reached as soon as possible. Congressman Ryan noted that the Delphi Salaried Retirees have been party to a long-standing lawsuit again the Pension Benefit Guarantee Corporation (PBGC), and asked the President to request that the PBGC join the retirees in asking the Sixth Circuit Court for a stay of the proceedings, which would allow for a negotiated settlement.
“The Delphi Salaried Retirees have waited long enough to find resolution to this issue. For too long they have suffered economic hardship and stress. I urge you to do all you can to bring an equitable resolution to this case for these hardworking retirees and their families,” wrote the Lawmakers.
A copy of the letter was also provided to Attorney General William Barr and Treasury Secretary Steven Mnuchin.
Read the full text of the letter below:
April 13, 2020
President Donald J. Trump
1600 Pennsylvania Ave. NW
Washington, D.C. 20009
We write today in support of the Delphi Salaried Retirees Association and the more than 20,000 impacted Delphi Salaried Retirees they represent. The Delphi Salaried Retirees have been a party to a long-standing lawsuit against the Pension Benefit Guarantee Corporation (PBGC) regarding severe cuts to their pension plans as part of the GM bankruptcy.
These pensioners are in real need of resolution for their case, some of which have seen an almost 70 percent reduction in their benefits. We share your view that the best result of this case is a mutually agreeable settlement. This remains so even if the Sixth Circuit issues its decision during the current health crisis.
We request, in order to find an equitable solution to this ongoing issue, that you request the PBGC: (1) to join with the Plaintiffs in the litigation to seek a stay of proceedings in the Sixth Circuit immediately; and (2) in any joint motion of the parties, explain to the Court that settlement of the case is a possibility, that the coronavirus pandemic has delayed efforts to bring a settlement fully to fruition, and that the issuance of a decision in the case under the circumstances could prevent a settlement from occurring.
The stay may be finite, with a requirement for the parties to report back to the Court on their progress. The Delphi Salaried Retirees have waited long enough to find resolution to this issue. For too long they have suffered economic hardship and stress. I urge you to do all you can to bring an equitable resolution to this case for these hardworking retirees and their families.
Thank you for your consideration.
Representative Tim Ryan (D-OH)
Representative Mike Turner (R-OH)
Representative Daniel T. Kildee (D-MI)