WASHINGTON D.C. – Today, U.S. Senator Sherrod Brown (D-OH) announced that the Department of the Treasury has agreed to meet with the Delphi Salaried Retirees Association (DSRA). This announcement comes on the heels of Brown’s efforts to push the Obama Administration to meet with the Delphi salaried retirees and to pursue efforts that would restore the retirees’ pensions and benefits.
“I will continue to stand by the Delphi retirees as they make their important case to the Administration,” Brown said. “We all need to work together to find a solution that would restore the pensions and benefits that Delphi retirees deserve.”
In a letter to U.S. Department of Treasury Sec. Jacob Lew sent last month, Brown urged Lew to review the proposal submitted by the Delphi Salaried Retirees Association (DSRA) and to pursue other solutions to ensure retirees’ receive the benefits they have earned that were lost through the bankruptcy of General Motors.
In 2009, Delphi’s bankruptcy cost approximately 19,000 hourly retirees and 20,000 salaried retirees their full pensions after the Pension Benefit Guaranty Corporation (PBGC) assumed Delphi’s pension plans. While three unions representing hourly Delphi retirees had reached contractual agreements with General Motors to ensure full pension protection – negotiated in 1999 and reaffirmed in 2007 – the remaining workers had not.
To read the Treasury’s letter to Brown in its entirety, see HERE.