Looking for Answers for Delphi Retirees When the US government took over General Motors, a decision made by the PBGC in consultation with the U.S. Treasury resulted in approximately 15,000 salaried Delphi retirees from across the country taking a severe cut in their promised pension benefits that had been earned throughout their careers. This action undertaken with taxpayer funds has not been explained or justified.
My questions for White House senior manufacturing adviser, Ron Bloom, about the GM Bailout and Delphi pensions.
Mike Turner Calls for Further Congressional Investigations into Delphi Salaried Retiree Pensions
Mike Turner welcomed yesterday’s announcement that Neil Barofsky, Special Inspector General for the Troubled Asset Relief Program, will investigate whether Delphi’s salaried retirees were treated differently than union or hourly retirees when the US government took over General Motors, and whether the TARP program or the Obama administration pressured GM to “top off” the pensions of hourly retirees.