Portman, Turner, and Boehner Lead New Push for Delphi Salaried Retirees

Press Release

Today, U.S. Senator Rob Portman (R-Ohio), Speaker John Boehner, and Congressman Mike Turner (OH-10) were joined by the entire Ohio Republican Delegation in a letter requesting that the Office of Inspector General conduct an inquiry into the Pension Benefit Guaranty Corporation's (PBGC) lengthy delay in providing final benefit determinations for Delphi salaried retirees.

In 2009, more than 20,000 Delphi salaried retirees had their pensions unjustly
terminated in the wake of the federal government's bailout of General Motors.

Despite the PBGC's stated policy of issuing these determinations in three years, these
retirees have waited in earnest for nearly five years to the day for the PBGC
to complete the basic documentation necessary to begin the benefit
determination process.

"The Delphi salaried retirees and their families have gone too long without adequate
answers regarding their pensions," said Portman. "It's important we
continue to hold the Administration accountable and work for answers for these
Ohioans who lost their pensions through no fault of their own."

"This letter is a simple request for accountability," said Turner. "Five
years ago, the government picked winners and losers in a taxpayer-funded
bailout that resulted in drastic reductions to the hard-earned pensions and
benefits of the Delphi Salaried Retirees. Today, we continue to seek answers on
behalf of these men and women and provide them with the information they
deserve."

"I applaud Congressman Turner for leading this continued effort to press this
administration for the truth on the Delphi Salaried Retirees. Here we
are, almost five years later, with unanswered questions and a sheer lack of
transparency from the president and his administration on the pensions and
benefits that these retirees so rightly earned. They've lost so much, and
we won't let up until they get the straight answers they deserve," said
Boehner.

Recently, the Senate Finance Committee passed an amendment
sponsored by Portman that would extend the Health Coverage Tax Credit (HCTC)
for retirees who lost their health care coverage--in addition to their pensions
and other benefits--when the companies for which they worked either entered into
bankruptcy or moved operations overseas. The amendment was passed during the
Senate Finance Committee's consideration of a tax extenders passage.

When Delphi's defined benefit pension plan was terminated, 20,000 Delphi salaried
retirees lost up to 70 percent in benefits, including 5,000 Ohioans. Of the
5,000 Delphi salaried retirees and their families in Ohio, about 1,500 are in
the Mahoning Valley, 2,000 are in the Dayton area, and a majority of the
remaining 1,500 are in Columbus and Sandusky.

The letter was also signed by Ohio Republican Reps. Steve Stivers, Steve Chabot,
Pat Tiberi, Bill Johnson, Bob Latta, Bob Gibbs, David Joyce, Brad Wenstrup, Jim
Renacci, and Jim Jordan.

Source