- Published: Tuesday, 30 April 2013 14:14
The PBGC has published this undated information believed to have been released today:
Starting June 1, about 6,000 Delphi salaried retirees will see a change in how they receive their retirement benefit. They will continue to receive the same benefit amount.
If you are one of the affected retirees, PBGC sent you a letter on April 30. The letter explains that instead of a single monthly benefit payment, you will now receive two payments each month. ~~ Read full PBGC FAQ
DSRA is taking legal advice regarding the significance and impact of this change but has no further information to provide on this subject at this time. Meanwhile, all questions should be directed to the PBGC via their contact page.
- Published: Saturday, 29 January 2011 19:00
When DSRA members receive their annual 1099-R from the PBGC for pension payments, the PBGC does NOT provide a breakdown into taxable pension payments and the non-taxable “return of contribution” payments which are related to personal Part B contributions. Delphi provided that service with the breakdown on the 1099-R, but the PBGC assumed the pension plans the responsibility to split taxable and non-taxable now rests with the retiree. Failure to calculate the correct non-taxable and taxable portions of pension payments could result in payment of higher taxes than are actually due.
DSRA has provided an eblast to members each year with guidelines for reporting taxable and non-taxable payments, the latest information was provided in an eblast to members on 3/10/2014; members should check their email for updated information please.
Please note this information is provided for guidance and information to DSRA members who are drawing their pensions from the PBGC. This is provided in the absence of any direction on this subject from the PBGC. DSRA cannot provide any additional information or assistance on this subject or on any related personal tax related matters. All members are advised to contact their tax preparers for specific advice and calculations. DSRA is neither responsible nor liable for calculations that result from using the information provided.
- Published: Tuesday, 05 March 2013 20:00
- Published: Saturday, 24 October 2009 11:54
Prepared by John MacBain for DSRA members
This will give some flavor as to the PBGC methodology applied to your pensions. In the case of someone without an early retirement pension, you will be able to determine rather closely your PBGC pension if you couple this information with the Delphi pension calculation spreadsheet already posted by the DSRA (Delphi Retirement Calculation Spreadsheet). For people with an early retirement supplement, it is not possible to convey precise numbers in a spreadsheet, but this note will give you a roadmap.