U.S. Senator Debbie Stabenow today applauded yesterday's report that the Pension Benefit Guaranty Corporation released documents to the Delphi Salaried Retirees Association, and continued her call on the Obama Administration to resolve the retirees' longstanding efforts to restore pension benefits they lost when General Motors went bankrupt.
"Twenty thousand salaried Delphi employees worked their entire lives with the promise that the pension they earned would be there for them in their retirement," said Stabenow. "That promise was broken three years ago when these retirees lost their benefits in the GM bankruptcy. I commend yesterday's release of documents to these retirees and strongly urge the Obama Administration to consider all options in restoring their pensions. These families have waited long enough."
Stabenow has been an outspoken advocate for Delphi retirees currently being denied their full pensions, helping them make their case to the former Director of Recovery for Auto Workers and Communities, and the Senate Finance and the Senate Health, Education, Labor and Pensions Committees. She has also urged Delphi and GM to work to reach a fair solution with retirees and has previously written the Administration urging action on this issue.
Senator Stabenow and Ohio Senator Sherrod Brown also championed an extension of the Health Coverage Tax Credit to help offset health care costs for Pension Benefit Guaranty Corporation payees. The tax credit provides those whose pensions have been taken over by PBGC a tax credit worth 72.5% or a retirees health care premium so that retirees who may lose a portion of their pensions do not also lose their health care coverage.