Extension of HCTC Passes a Key Hurdle

Senator Portman seeks support from the Senate Finance Committee for extension of HCTC.
WASHINGTON April 3, 2014 —
An amendment to help Delphi salaried retirees who saw their pensions cut during the 2008-2009 auto bailout passed a key hurdle in the Senate Thursday after Ohio’s two senators successfully tucked the measure inSto a tax bill that now moves to the Senate floor.
Senator. Sherrod Brown (D-OH) and Senator Rob Portman (R-OH), successfully fought to extend the Health Coverage Tax Credit – a tax credit for retirees who lost their health care coverage when their companies entered into bankruptcy.  Both senators are members of the Senate Finance committee, which sent the bill and amendment to the full Senate.
The tax credit, which expired January 1, 2014, was used heavily by the Delphi salaried retirees who saw their pensions cut in the aftermath of the federal government’s $50 billion bailout of GM. Delphi. ~~  The tax credit makes health insurance more affordable by providing a 72.5 percent tax credit to eligible workers, allowing these workers to pay only a portion of their qualified health insurance.

Tom Green Emphasizes the Double Hit to Delphi Salaried Retirees

Tom Green

Tom Green, former executive, Delphi Corporation, spoke with Yuna Lee on WHIO on March 10, emphasizing the double hit to Delphi salaried retirees with the hardship of pensions reduced by the PBGC and also the drastic increase of health care insurance costs due to the loss of Health Coverage Tax Credit (HCTC).  Click here for video.

DSRA Responds to Opinion that "fairness is not the governing principle"

In a recent article published by The Columbus Dispatch, Ohio, comments were made Norm Stein, a law professor at Drexel University, who allowed the opinion that, based upon past history and statistics, the conclusion would be that retirees seeking restoration of their reduced pensions would not see a positive resolution.
DSRA's position, however, is that the Delphi salaried retirees' case has significant differences which are unique.  In most cases, pensioner claimants don't get past the first court hearing without the case being dismissed.  In this case, the plaintiffs on behalf of the retirees continue to win at each critical juncture despite the "slow walking" being done by the Federal Government Agencies.
The pessimism quoted in the Columbus Dispatch article stems from a lack of detailed knowledge of our case, including the assets, actuarial data, and the degree of illegal control the U.S. Treasury exerted over the PBGC.  These elements of the Delphi salaried retirees' case are like no other legal challenge the PBGC has faced and therefore defy the typical stereotypical opinions expressed.

DSRA Chair Black updates Doc Thompson on Morning Blaze

Den Black
DSRA Chair
Doc Thompson
The Blaze

DSRA Chair Den Black updated Doc Thompson on the Morning Blaze today with details of the recent Congressional Hearing on decisions made regarding Delphi salaried retirees' pensions through the bankruptcy processes of GM and Delphi in 2009.  Thanks to Doc Thompson for supporting Delphi salaried retirees.  Audio of discussion