Presidential memo brings new hope for salaried Delphi retiree pension plan
President Trump is asking his cabinet for ways to restore the pension plan within 90 days
WASHINGTON (WJRT) - President Donald Trump gave new hope for salaried Delphi retirees who have battled in court over their pension plan for 11 years.
Trump signed a presidential memorandum on Thursday directing his cabinet to bring recommendations for restoring the salaried retiree pension plan within 90 days. The fix, which may require additional legislative or administrative actions, should be implemented in 180 days.
More than 20,000 Delphi retirees lost a significant part of their pension in 2009 during the General Motors bankruptcy. The government-run Pension Benefit Guaranty Corp. terminated the salaried retiree pension but continued the unionized hourly retiree pension plan.
Salaried retirees then filed a lawsuit against the federal pension agency in U.S. District Court and the case has not been settled.
Some retirees lost 30% to 70% of their monthly pension payments after the bankruptcy was completed, which amounted to $1,700 per month in some cases. The Delphi Salaried Retirees Association is fighting to restore full benefits for its members.
“We offer our encouragement and prayers for all involved to expedite a successful conclusion," said DSRA Vice Chairman Bruce Gump. "We played by the rules. The involuntary termination of our pensions was wrong. It did not have to happen. This means so much to the future of these retirees, their families and communities in many states.”
Delphi was the auto parts arm of General Motors for decades and operated plants in Mid-Michigan.
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