Delphi Retirees Pension Restoration Act

This bill would restore the full pension benefits for certain retirees of Delphi Corporation whose pension plans were ended because of General Motors' bankruptcy in 2009. The Pension Benefit Guaranty Corporation (PBGC), a government agency that handles pensions, would be required to recalculate each retiree's monthly payments and pay them the full amount they were originally owed. The PBGC would also have to make a one-time lump-sum payment to cover any money retirees missed out on in the past, and the bill explains how those lump-sum payments would be handled for taxes.

Your Vote