Sen. Portman: Answers Elude Delphi Retirees

Youngstown Vindicator | | Senator Rob Portman (OH):

Sen. Portman
What if for decades you worked the same job, putting money away for the future, doing everything right, taking responsibility for your retirement, only to see the government step in and take it all away? How would you feel?  Unfortunately for thousands of Ohioans who were employed by a company called Delphi, that nightmare scenario came true. ~
Last week after a request by Congressmen Mike Turner, Dave Joyce, me and others, a special congressional hearing took place in Dayton to hear from Ohioans Tom Rose, Mary Miller and Bruce Gump. Tom, Mary and Bruce are like many Ohioans: they worked hard at their jobs for over 30 years, they put money away for their children’s future, they were paying their mortgages, and they diligently saved for retirement. ~ In exchange for playing by the rules with hard work and loyalty to their company, these Ohioans and 22,000 of their colleagues were to be paid a certain benefit from their pension during retirement. Yet in the summer of 2009, as it took GM into bankruptcy, the Obama Administration chose to terminate their pension plans. ~ Read more - Sen. Portman's column