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Rep Mike Turner: GAO Report Does Not Support Administration’s Actions; Could be Misconstrued

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Updated Thursday December 22 2011 19:59 EST

Published Thursday December 22 2011 19:57 EST

Letter Follows GAO Report Issued on Administration’s Role in Delphi Pension Decision

Washington, D.C. – 12/21/2011, Congressman Mike Turner, in a letter to Ms. Barbara Bovbjerg, Director of Education, Workforce, & Income Security at the Government Accountability Office (GAO) lodged his reservations on a recently issued report regarding Delphi pensions. The report ~ contains language which may be perceived as affirming the actions taken by the Department of the Treasury, the President’s Auto Task Force (ATF), and the Pension Benefit Guaranty Corporation (PBGC) in terminating the pension benefits of Delphi salaried retirees.  ~ several statements standing alone would appear to indicate that GAO supports the actions of Treasury and the PBGC in reducing the pension benefits of the Delphi salaried retirees.  In addition, the report fails to address outstanding questions as to the valuation of the pension fund, General Motors’ (GM) so-called contractual obligations, and information on PBGC's delays in litigation.” ~~

Rep Turner's press release | Rep Turner's letter to Ms Bovbjerg, GAO

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