Congressmen Tim Ryan (D-OH) and Mike Turner (R-OH) Urge President Trump to Restore Delphi Salaried Retirees’ Pensions
Washington, DC – Today Congressmen Tim Ryan (OH-13) and Mike Turner (OH-10) led a bipartisan call for President Trump to restore the pension plans of Delphi Salaried Retirees before any further coronavirus relief for the auto industry. In a letter to the President, Ryan and Turner urged the Administration to direct that the Pension Benefit Guaranty Corporation (PBGC) settle pending litigation over the Delphi Salary plans and request that the PBCG restore lost pensions.
“Any federal assistance for the auto industry must include relief for the Delphi Salaried Retirees Association (DSRA),”said Congressman Ryan (D-OH). “The Delphi Salaried Retirees have waited long enough to find resolution to this issue. Their suffering, hardship, and stress has now continued into another Presidential term without attention. Once again, I’m calling on the Trump Administration to fix this injustice.”
“There should be no federal stimulus funds given to the U.S. auto industry without restoring the pension plans of the Delphi Salaries Retirees terminated by the previous administration,” said Congressman Mike Turner (R-OH). “During the Obama Administration’s 2009 taxpayer-funded General Motors bankruptcy bailout, the earned pension plans of more than 20,000 Delphi Salaried Retirees were terminated unjustly. This decision caused devastating financial losses to these families. Now is the perfect opportunity for this injustice to be corrected. The auto industry should not receive taxpayer funds for a bailout again until the injustice from the last bailout is remedied.”
In 2005, Delphi entered bankruptcy protection and as part of the restructuring of the company, many long-term employees were forced into early retirement. Early retirement or supplemental benefits are not guaranteed by the Pension Benefit Guaranty Corporation. In February of 2009, the Delphi salaried retirees lost health care benefits for themselves and their families. On July 31, 2009, the Pension Benefit Guaranty Corporation terminated Delphi’s pension plans.
Congressman Ryan has been fighting to restore the Delphi Salaried Retirees’ pensions since they were lost in 2009.
See the full text of the letter here.