Sen. Brown, Sen. Stabenow Push PBGC for Benefit Determinations

Sen. Brown
Sen. Stabenow
 

Senator Sherrod Brown (OH) and Senator Debbie Stabenow (MI) have again supported Delphi Salaried Retirees with a letter to Mr. Josh Gotbaum, Director, PBGC, asking for an update on timing and completion of benefit determinations for the pensions that were assumed by the PBGC over 3½ years ago.  Sen Brown, Sen Stabenow letter

Rep. Mike Turner (OH) - The Untold Story of the Auto Bailout

The Untold Story of the Auto Bailout

Rep. Mike Turner (OH) Washington, 2013-02-20 -

Extracts from Rep. Turner's column - Today marks the anniversary of President Obama convening his most trusted allies and appointees to his Presidential Task Force on the Auto Industry. ~ the Auto Task Force itself issued recommendation and directives to the so-called independent Pension Benefit Guaranty Corporation (PBGC) under the guise of seeking to ensure the long-term viability of GM and the many companies in GM’s supply chain. ~ I want to shed light on the actions of the PBGC to discriminate against and unjustly terminate the pensions of Delphi’s salaried retirees, while making hourly retirees whole. The decision has left over 20,000 current and future salaried retirees with drastic reductions to their pensions and benefits. This process was done without transparency, without justification, and in my opinion, without respect for the men and women who dedicated years of service earning their retirement benefits. ~

That is why this month, with my colleague and fellow Ohioan, Congressman Tim Ryan, we have co-founded a working group of our own, the Congressional Auto Industry Pension Task Force.  The newly formed Task Force, dedicated exclusively to the uncovering the truth behind the hardship imposed upon Delphi’s Salaried Retirees, will seek to hold accountable those government officials from the U.S. Treasury Department, Auto Task Force, and the PBGC who chose to terminate these retiree’s hard-earned pensions and benefits.

Read entire column...

Turner Derides Tax Dollars for Auto Executive Salaries as Delphi Retirees Left in the Cold

Administration has Failed to Reveal how it Picked Winners and Losers amongst Americans

Congressman Mike Turner, a senior member of the House Oversight and Government Reform Committee (OGR), submitted the following statement [today] for the record as the OGR Subcommittee on Economic Growth, Job Creation & Regulatory Affairs began its hearing on “Bailout Rewards: The Treasury Department’s Continued Approval of Excessive Pay for Executives at Taxpayer-Funded Companies.”

~ the Treasury Department approving salaries in excess of $500,000 for forty-eight of the sixty-nine executives whose compensation was subject to the Administration’s approval in 2012. And on the other hand, we have tens of thousands of retirees being denied both the pensions they earned, and access to the information and documents the Administration used in making this decision. ~ The gross inequity imposed on Delphi Salaried Retirees is, by itself, unacceptable. ~

Read more... Rep. Turner's Statement for the Record

Sen. Rob Portman Questions Treasury Secretary Nominee

Portman Asks Treasury Secretary Nominee Jacob Lew Tough Questions Regarding Ohio’s Delphi Salaried Retirees Stripped of Pensions

Decreased retiree income and benefits will cost the Dayton area about $80 million per year in lost economic activity

Washington, D.C. – Today [2013-02-13], U.S. Senator Rob Portman (R-Ohio), former director of the Office of Management and Budget (OMB), submitted questions for the Congressional Record for the Senate Finance Committee hearing considering the nomination of Jacob Lew to serve as Treasury Secretary regarding the treatment of retired Delphi salaried workers during the General Motors bankruptcy. ~  said Portman. “I am concerned by the lack of transparency throughout this process, and will continue to push the Administration to answer tough questions regarding the unfair treatment of Delphi retirees.” ~~ Read more - Sen. Portman complete press release and questions

TribToday - Sen. Portman questions nominee..