Delphi Pension

  • When General Motors (GM) filed for bankruptcy in 2009, the Obama administration terminated the pension plan for 20,000 Delphi salaried employees and the Pension Benefit Guaranty Corporation (PBGC) then cut their retirement benefits by as much as 70 percent.
  • This includes more than 5,000 retirees in Ohio.
  • The PBGC assumed responsibility for the terminated benefits but could not pay an individual more than a statutory maximum benefit.
  • Therefore, salaried retirees suffered significant losses to their benefits, with devastating impacts on many lives

2022 0804 - Senate - On the Senate Floor, Portman Fights to Restore Retirement Benefits for Delphi Salaried Retirees - [link]

  • 2009 1029 - GOV (Senate) - (CSPAN) Preserving Retirement Security
  • 2013 0911 - GOV (House) - Oversight of the SIGTARP Report on Treasury's Role in the DELPHI Pension - (YouTube) - Treasury's Role in Delphi Pension - part 1
  • 2013 0911 - GOV (House) - Oversight of the SIGTARP Report on Treasury's Role in the DELPHI Pension - (YouTube) - Treasury's Role in Delphi Pension - part 2