Tuesday, July 15, 2014
WASHINGTON D.C.
U.S. Sen. Sherrod Brown, and Democratic U.S. House members have urged the U.S. Department of Labor to expedite the decision on Delphi salaried retirees’ pensions.
Brown, a democrat from Cleveland and U.S. Reps. Marcia Fudge, D-11th of Cleveland, Tim Ryan, D-13 of Howland, and Marcy Kaptur, D-9th of Toledo have submitted a letter to the Department Secretary Thomas Perez, urging him to “intervene and ensure that the Pension Benefit Guarantee Corporation” makes a decision soon.
U.S. Sens. Bob Casey, a democrat from Pennsylvania, Chuck Schumer, a democrat from New York, and Debbie Stabenow, a democrat of Michigan also signed the letter.
“The 20,000 members of the salaried plan have been waiting for almost five years for a final benefit determination from the Pension Benefit Guarantee Corporation,” the lawmakers wrote. “Recent comments from the PBGC have suggested that the agency has yet to take basic initial steps towards making such a determination. This delay is unsatisfactory and deeply troubling – contradicting the PBGC’s policy to reach a final determination within 3 years of a plan’s termination … Accordingly, we ask that your office intercede in this matter and compel the PBGC to act.”
Outside of asking the department to intercede on the process, the lawmakers also asked for a response to this request within the month and for the department to provide their offices and the Delphi Salaried Retirees Association with monthly updates on progress made.