Delphi Pension Task Force Requests Pension Plan Details
Congressman Mike Turner, Co-Chair of the Auto Industry Pension Task Force, was joined by fellow Task Force members in writing to request that the Pension Benefit Guaranty Corporation (PBGC) provide them with an update on the status of final benefit determinations for the Delphi Salaried pension plan:
Mr. Joshua Gotbaum Director
Benefit Guaranty Corporation
1200 K St., NW Washington, D.C. 20005
Dear Mr. Gotbaum:
We are writing to request that the Pension Benefit Guaranty Corporation (PBGC) provide us with an update on the status of final benefit determinations for the Delphi Salaried pension plan. As you know, over 20,000 salaried retirees had their hard-earned retirement drastically reduced when the PBGC terminated their pensions in July 2009.
However, since that time, your agency has not yet produced final benefit determinations for plan participants. For too long, these retirees have withstood undue delays on the part of the PBGC to produce this determination. Swift, thorough, and accurate action is required to remedy this undue delay and to provide these individuals with the information and certainty they deserve.
Thank you for your timely attention to this matter, and please do not hesitate to contact us with any questions you may have.
Michael R. Turner