Leave Feedback

no avatar

Hearing set on Delphi retirees

TNS Regional News • Jun 8, 2013 at 6:07 PM

A U.S. House committee is returning to Dayton for a congressional field hearing Monday on how the pensions of Delphi salaried retirees were treated.

The House Oversight & Government Reform Subcommittee on Government Operations will hold the hearing at Sinclair Community College, Turner’s office said Thursday. The hearing is titled: “The Delphi Pension Bailout: Unequal Treatment of Retirees.”

The same committee held a hearing at Sinclair in November 2011. Vincent Snowbarger, Pension Benefit Guaranty Corp. deputy director for operations and a former PBGC acting director, testified at that hearing.

This hearing will start at 10 a.m. and will have testimony from local residents Tom Rose and Mary Miller, among others. Administration and PBGC officials were not on the hearing’s witness list Thursday.

“We sought them, and they were uncooperative,” Turner told the Dayton Daily News.“We’re not giving up, ” Turner added.

A U.S. Treasury spokesman said Treasury officials were not invited to testify at the hearing. PBGC officials have said Congress itself mandates how much it can pay retirees whose pensions the agency oversees.

Turner said the matter is approaching a series of important milestones, both in the retirees’ federal lawsuit against the PBGC and in an investigation of the matter by the special inspector general for the troubled asset relief program.

Turner said a federal court has ordered the PBGC to comply with discovery requests from attorneys representing Delphi salaried retirees. A Treasury spokesman disagreed with that, but the lawsuit’s case docket shows that in March 2012, the federal court in Detroit ordered the PBGC “to provide full and complete responses” to plaintiffs’ document requests, including requests for all documents “produced or reviewed by the PBGC since Jan. 1, 2006.”

“The litigation continues to gain momentum and steam, so we expect to get an update on the issues,” Turner said.

Delphi salaried retirees, including hundreds in the Dayton area, saw their pensions cut by 30 to 70 percent when the pensions were transferred to the federally backed PBGC in July 2009, while auto parts producer Delphi was in Chapter 11 bankruptcy protection. Delphi emerged from bankruptcy a few months later.

At the same time, General Motors chose to bolster the pensions of retirees represented by unions. The salaried retirees say they do not begrudge their union-represented counterparts their full pensions, but say they want similar treatment.


By Thomas Gnau - Dayton Daily News, Ohio (MCT)

©2013 the Dayton Daily News (Dayton, Ohio)

Visit the Dayton Daily News (Dayton, Ohio) at www.daytondailynews.com

Distributed by MCT Information Services

Recommended for You