Local Delphi salaried retirees say retirement plans were abandoned

Two local retirees of Delphi Packard Electric told a House subcommittee that their pension plans were improperly abandoned.

Howland residents Bruce Gump and Chuck Cunningham testified today that they believe the federal Pension Benefit Guaranty Corp. should not have dropped liens it held so that it could take over the company’s pension plans.

By testifying before the House subcommittee on Health, Education, Labor and Pension, the salaried retirees hoped to bolster their case that the PBGC should reconsider its decision to take over the plans from Delphi, Gump said.

The salaried retirees face pension cuts because of the decision.

For more information, see Thursday’s Vindicator or www.vindy.com.