U.S. Senator Debbie Stabenow continued her strong support of Delphi salaried retirees who lost pension benefits as a result of the bankruptcies of General Motors and the Delphi Corporation. Stabenow co-sponsored legislation today requiring that these pensions be fully restored using funds from the U.S. Treasury's eventual sale of remaining General Motors stock. Stabenow has also urged the Obama Administration to fully consider the Delphi Salaried Retirees Association's proposal for restoring pension benefits.
"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 over three years ago when these retirees lost their benefits following the GM bankruptcy. The many families who are facing major hardship as a result of this loss of income deserve to know that all options are being pursued to fully restore these benefits."
After the 2009 bankruptcy of General Motors, thousands of workers lost their full pensions after the Pension Benefit Guaranty Corporation (PBGC) assumed Delphi's pension plans.