Turner Statement on PBGC Rejection of Mediation with Delphi Salaried Retirees
by Mike Turner on September 28, 2012 at 11:40 AM
The following statement was released Thursday, after the Pension Benefit Guaranty Corporation (PBGC) rejected non-binding mediation with the Delphi Salaried Retirees. Recent media reports have indicated that the U.S. Treasury Department and PBGC made decisions that resulted in approximately 20,000 salaried Delphi retirees from across the country taking a severe cut in their pension benefits.
I am disappointed to learn that the PBGC has rejected the request of Delphi Salaried Retirees to engage in non-binding mediation. With countless retirees throughout Ohio and across the county, PBGC’s refusal of the Delphi Salaried Retirees’ good faith offer to discuss the rightful restoration of their pensions is disheartening, but not surprising. For years now, this Administration has denied these retirees, Congress, and American taxpayers the transparency and answers they deserve. I remain committed to uncovering the truth behind the Administration’s backroom deal to slash the hard-earned pensions of these Delphi Salaried Retirees.