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Economy and Business


Ohio congressman pushes for Delphi pension information
U.S. Rep. Mike Turner says pension company has not been forthcoming
Story by EMILY MCCORD


 
U.S. Rep. Mike Turner is demanding more information on non-union Delphi pensions by Aug. 5.
Courtesy of U.S. House of Representatives
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A congressional committee is pushing for Treasury Secretary Jacob Lew to release documents related to the pensions of retirees from the Warren-based Delphi company and is setting setting a deadline for action.

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Republicans Darrell Issa, John Mica and Mike Turner sent letters this week to the Treasury and to the Director of the Pension Benefit Guaranty Corporation, asking for the documents related to the pensions of Delphi employees received at the 2008 auto bailout. That is when non-union retirees had their pensions cut, some as much as 70 percent.

The House panel says it will subpoena that information if those documents are not produced by Aug. 5. Mike Turner of Ohio’s 10th district says this the final step in a long process to get the information, and the administration has not provided Delphi employees the answers they deserve.

“The Treasury Department and PBGC have not been forthcoming," Turner says. "They’ve provided some emails and communications about the Delphi salaried retirees losing their pensions that only included the salutation and the sign off with no substance in between with the attachment having been deleted.”

In a statement PBGC, spokesman Marc Hopkins says the agency has provided the committee and other congressional panels with comprehensive Delphi-related communication and that it is reviewing the committee’s request.

Listener Comments:

I started with Chevrolet in 1967 and spend my entire career with GM until this spin off of Delphi. My pension went with Delphi. J.T. Battenberg III's stayed with GM. Why is all I ask did J.T.'s pension stay with a company I had spent more time with than he did?


Posted by: Richard Doyle (Santa Teresa, NM) on July 26, 2013 6:07AM
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