WASHINGTON, DC – Lawmakers are calling out the Pension Benefit Guaranty Corporation’s (PBGC) delays regarding the Delphi Salaried Employee’s pensions.
Congressman Turner, Senator Portman, Speaker Boehner and the entire Ohio Republican Delegation sent a letter to acting Inspector General, Deborah Stover-Springer.
The letter requests her office look into the Pension Benefit Guaranty Corporation’s lengthy delay in providing final benefit determinations for Delphi Salaried Retirees
It’s been five years since the General Motors bailout that left Delphi Salaried Employees without a job and without their full pensions. Delphi was GM’s major auto parts producer.
Hourly union employees received their full pensions while salaried ones only received 30-70 percent. Those retirees and lawmakers have been fighting to get the rest.
The letter to the Inspector General’s Office not only points to delays, it also says “it has also come to our attention that the PBGC has also not completed the basic documentation of plan assets and liabilities necessary to begin the benefit determination process.”
The lawmakers found that out through a Freedom of Information request. They said PBGC cited dates in 2015 when they would have the information needed to complete to final benefit determinations.
2 NEWS Investigates spoke directly with Ms. Stover-Springer about the letter. She told us she had yet to receive and read it.
Sen. Sherrod Brown says he is also working to get answers.
He released this statement to 2 NEWS Thursday. “The Health Coverage Tax Credit helps ensure that retirees who lost significant amounts of their hard-earned pensions have the financial resources they need to help pay their medical bills. That is why I have worked to pass bipartisan legislation that permanently extends this crucial tax credit and pressed the Department of Labor and the PBGC to extend this credit to help the more than 20,000 Delphi salaried retirees regain their financial security.”