House OKs Long-Sought Pension Rescue For Delphi Retirees – Law360

July 29, 2022 by No Comments

By Patrick Hoff (July 28, 2022, 3:29 PM EDT) — The U.S. House of Representatives passed a bill that would require the federal government to restore losses to salaried retirees of former auto parts supplier Delphi Corp., whose pensions were slashed during the 2009 restructuring of General Motors.

The House voted 254-175 on Wednesday to pass the Susan Muffley Act of 2022, which would force the Pension Benefit Guaranty Corp. to recalculate benefits owed to approximately 20,000 salaried retirees of Delphi, a former GM subsidiary that entered Chapter 11 in 2005. The legislation now heads to the Senate.

According to a summary of the bill compiled by the House Ways and Means…

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Source: https://www.law360.com/articles/1515956/house-oks-long-sought-pension-rescue-for-delphi-retirees

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