|
Published: June 29, 2009 09:41 pm
DELPHI: Salaried retirees gain support of 22 congressmen in fight for benefits
By Joe Olenick E-mail Joe
Lockport Union-Sun & Journal
Including U.S. Reps. Chris Lee, R-Clarence and Brian Higgins, D-Buffalo, 22 Congressional representatives are coming to the aid of Delphi salaried retirees.
In a letter sent to Treasury Secretary Timothy Geithner, the Congressional representatives are asking Geithner to direct the department’s federal auto task force to release all documents concerning a proposal to default the retirees’ pensions to the Pension Benefit Guaranty Corp. The PBGC is a federal corporation created by the Employee Retirement Income Security Act of 1974 and covers some of the retirement income of about 44 million Americans. It encourages the continuation of pensions and does not receive funds from taxes.
Moving the pensions to the PBGC could reduce the pension payments retirees receive, the letter said, affecting about 15,000 former Delphi workers nationwide.
“Through referral to the PBGC, salaried retirees’ pension payments are likely to be cut drastically, as much as 70 percent by some estimates,” the legislators said in the letter.
Delphi was allowed to stop salaried retiree pension payments by April 1. The letter to Geithner said General Motors agreed to assume Delphi’s hourly worker pensions and it was unfair to treat two groups of employees who worked together for so many years so differently. Delphi spun off from GM in 1999 as a separate parts company and has been in bankruptcy since 2005. The company announced earlier this month it has come to an agreement that will allow it to emerge from bankruptcy protection. The final hearing is set for July 23.
The letter said the retirees and the American public, which owns 60 percent of GM, both deserve to know the background of the decision.
“They deserve a full and public explanation of how this inequitable decision was made,” the letter said.
The explanation would include all pertinent documents, written communications and memorandums among the auto task force, GM, Delphi and their representatives and agents.
Den Black, interim chairperson of the Delphi Salaried Retiree Association, said the organization was very appreciative of the letter by Lee and the other representatives. But more support is needed.
“The situation has become critical,” he said. “We need more congressional and senatorial representatives, especially from Delphi states, to step forward to protect their constituents. Immediate steps must be taken to prevent the pension default. This is a precedent-setting case that could determine outcomes for millions of other retirees whose former employers are under bankruptcy protection.”
Contact reporter Joe Olenick at 439-9222, ext. 6241.
|
|
|
|
 |
Clerk
DUNKIN DONUTS now hiring for FT/PT positions. Must be at least 18, Apply at Dunkin Donuts, 2560 Youngstown-Lkpt Rd, Rans...>MORE
Maintenance Technician
MAINTENANCE Technician, FT, exp. needed in electrical, plumbing, heating & cooling, Apply in person bet. 9 & 5 at 6751 ...>MORE
PHONE SALES
PHONE sales, great pay, exp. a plus, nice NT office, FT/PT, hrly. +, Pete or Mike, 694-1251...>MORE
Driver
DRIVERS – CDL A TEAM DRIVERS NEEDED FOR DEDICATED RUNS No touch freight............Good miles ...>MORE
Information Technology
INFORMATION TECHNOLOGY - Niagara County Community College is seeking a Director of User and Administrative Technology Se...>MORE
Auto detailer
Auto Detailer full time, exp. pref. Apply at David Chevy Buick Pontiac, 10225 Nia Falls Blvd. or 298-9700 ask for Frank....>MORE
Coach, Women's Lacrosse
COACH, WOMEN’S LACROSSE - Niagara County Community College is seeking a head coach and an assistant head coach for the w...>MORE
BILINGUAL PHONE INTERVIEWER
Bilingual Telephone interviewer. Surveys for insurance policy review. Spanish/English a Must. ft/pt & Sat. No sales/coll...>MORE
RN/LPN
RN/LPN (FT) for family practice. Lockport. Fax resume to 434-1745...>MORE
Cook
COOK full time. Apply in person only, Augie’s Diner, 2470 Military Rd. ...>MORE
See all ads |
Monte Carlo Z24 1998
MONTE CARLO Z24, 1998, runs good, average miles, excellent shape, $1800 , 990-2303...>MORE
1999 Dodge Caravan
DODGE 1999 Caravan, 33, V6, auto, A/C, 99k miles, good cond., runs great. $1950. 525-7796...>MORE
1996 Ford Escort
FORD 1996 Escort 4 cyl, 2 dr, exc cond in & out, no rust, 1 owner, only 61k orig mi, $2195. 523-7102...>MORE
VW 2001 Beetle
VW 2001 Beetle, loaded, GLX turbo, exc. cond, all service records, fun to drive, blue bk $5600, take best offer, 990-06...>MORE
Ford 2001 Taurus
Ford 2001 Taurus Station wagon, well maintained, 112,000 miles Siver ext. 4 dr, auto, asking $2800/BO. 716-772-2454....>MORE
Buick 2005 Lesabre
BUICK 2005 Lesabre Custom, excellent condition, fully loaded, $6700 or best offer, 754-4540...>MORE
Junior Accountant
Auto Detailer full time, exp. pref. Apply at David Chevy Buick Pontiac, 10225 Nia Falls Blvd. or 298-9700 ask for Frank....>MORE
See all ads |
|
See all ads |
|
 |
|