PBGC Pension Reduction Notices are being received now.....

Correction 3/3/10 – PBGC advised that Pension Reduction Notices for those with QDRO (Qualified Domestic Relations Orders), and other pension complexities, have been delayed for several months.  However, PBGC Pension Reduction Notices are continuing to be sent to retirees as the PBGC works through each and every personal situation.  If you have not received a Pension Reduction Notice it is still likely that you will do so at some point, but you might not receive it for weeks, or even months, to come.  When we have more definition about which groups are being notified with reductions we will post and eblast updates.

When you receive your pension reduction notice please complete our survey at:

http://www.surveymonkey.com/s/S2G38NG

This survey is ONLY for members receiving their actual Reduction Notices after 2/20/2010.  Please do not use this survey until you receive your actual Reduction Notice. If you have already provided your Pension Reduction information to the previous survey please do not enter it again.

Thank you for your support.

Senator Sherrod Brown initiated a letter from 32 Senators and Congressmen sent to President Obama requesting assistance to resolve the pension situation of Delphi salaried retirees.  Our sincere appreciation to Senator Brown, Congressman Ryan, and all those who signed this letter, and to the DSRA members who have pushed for this Congressional support. 

The Press Release    The Letter     All Congressional Support Letters

DSRA board member Paul Dobosz was on yesterday's CNN segment: CNN's Lisa Sylvester reports Congress' pension system might look broken to taxpayers, but lawmakers love it.

Click here to see the video: http://www.cnn.com/video/?/video/us/2010/02/24/sylvester.broken.pensions.cnn

TODAY WAS A VERY GOOD DAY WITH REGARD TO OUR ON-GOING, and UNRELENTING, EFFORTS TO OBTAIN "FAIR and EQUITABLE" PENSION TREATMENT FOR ALL OF THE PENSION ELIGIBLE DELPHI SALARIED RETIREES and ACTIVE DELPHI EMPLOYEES.

WE WERE VERY PLEASED WITH THE MOST RECENT MICHIGAN FEDERAL DISTRICT COURT JUDGE'S RULING WHICH WAS ISSUED THIS MORNING.

IN ADDITION, THERE WERE NO NEGATIVES COMING FROM THE STATUS AND SETTLEMENT CONFERENCE INVOLVING "ALL PARTIES" WHICH WAS HELD THIS AFTERNOON.

YOU CAN VIEW THE FOLLOWING VIDEO FOR THE DSRA'S ATTORNEY COMMENTS AFTER THE FEB. 18, 2010 COURT APPEARANCE IN DETROIT DISTRICT COURT.

NO FURTHER COMMENT IS APPROPRIATE AT THIS TIME.

Den Black
Interim Chair--DSRA--Delphi Salaried Retirees Association
Chesapeake, VA  23320
(757) 262-9925  Cell      (757) 436-2347  Home
This e-mail address is being protected from spambots. You need JavaScript enabled to view it

The following video was made by the leadership of the Delphi Salaried Retirees Association.  Please let everyone you know about this video regarding the progress of DSRA after one year.

Important information regarding VEBA Health Care Rate Increases and HCTC Payments - all participants in the VEBA Health Care Plans need to read this release carefully and take action as needed please.

Click here for this important notice (printable PDF file).

DSRA is Handed a Preliminary Victory

With Respect to Our Efforts to

Prevent the PBGC From Reducing Your Pension Benefits

       The Federal District Court in Detroit handed the DSRA a preliminary victory on Tuesday, January 26.  We had asked the Court to prevent the PBGC from reducing our pension benefits during the period in which the Court resolves our challenge to the termination of our pension plan.  On Tuesday, the Court issued an extraordinary order telling the PBGC to hold the difference between our full pension payments and the reduced amounts the PBGC will pay us in what is known as an “escrow” account -- namely, a separate interest-bearing account.  The Court insisted that the PBGC do this so that, in the event we win in the end, we will all get full relief.  The Court said that the PBGC could avoid the escrow account requirement only if the PBGC were instead to stipulate on the record that it automatically will make everyone whole if the Court ultimately rules in our favor on the merits.  If the PBGC fails either to establish the escrow account or make the stipulation on the record to the Court, the Court indicated it will then issue an injunction entirely halting any PBGC reductions.

      This is a very promising development.  If the Court believed that our case lacked merit, it would not

 Turner Hands Geithner another 30 Questions Investigating Treasury’s Role in Reducing Delphi Salaried Retirees’ Pensions

            (WASHINGTON, D.C.) – Congressman Michael Turner (R-Ohio-3) today presented Treasury Secretary Timothy Geithner with an additional 30 questions examining the Treasury Department’s involvement in the decision to cut Delphi salaried retirees’ pension plans.  Congressman Turner handed Secretary Geithner the additional questions prior to this morning’s House Oversight and Government Reform Committee.