7-22: PBGC To Assume Delphi Pension Plans

WASHINGTON—The Pension Benefit Guaranty Corporation today announced it will assume responsibility for the pension plans of 70,000 workers and retirees of Delphi Corp., the nation’s largest producer of automotive parts. The PBGC will initiate action to become trustee of the plans, a process that could last up to several months.

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As of this posting, the DSRA has not yet released a statement regarding this development.  Any statement will be posted as soon as it is available.