WASHINGTON (WKBN) – A new bill has been introduced that, if passed, would restore retirement benefits to Delphi retirees.
The bipartisan bill was introduced Wednesday by U.S. Senators Sherrod Brown (Democrat, Ohio) and Mike Brown (Republican, Indiana). It’s called the Susan Muffley method.
If passed, discontinued pensions will be reinstated and retirees will be complete. This will make up for the difference between the pension benefits received by Delphi salaried retirees and those received after General Motors’ bankruptcy in 2009.
This means that beneficiaries who have already started receiving benefits can pay the difference between the amount actually paid by the American Pension Benefit Guaranty Association and the amount they would have otherwise paid, plus interest. It means that you will receive it in bulk.
More than 20,000 Delphi salaried workers were affected when GM filed for bankruptcy during the Great Recession. As a result, PBGC was held responsible for discontinued benefits, but could not pay individuals more than the statutory maximum benefits. Retirees experienced a significant loss of benefits.
More than 5,000 retirees were affected in Ohio.
“Workers and retirees in Ohio and Michigan have been working for years, but the time has come to fully restore the benefits available to salaried retirees in Delphi,” Brown said. . “I will continue to work with lawmakers from both parties and the White House to deliver results for these retirees.”
The bill is named after the late Susan Muffley, who was one of the core leaders of the Delphi Salary Retirees Association in its efforts to restore pensions.
https://www.wkbn.com/news/local-news/legislation-introduced-to-restore-delphi-retirement-benefits/ Ohio Senator Sherrod Brown introduces bill introduced to restore Delphi retirement benefits in Ohio