It’s been five years since more than 20,000 Delphi Salaried Retirees had their pensions terminated in the wake of the Obama administration’s bailout of General Motors.
But while unionized workers with political connections to the Obama administration received preferential treatment and got a much better deal, thousands of non-union retirees were left out in the cold.
And those salaried retirees are still waiting for their benefits to be determined.
If you ask us, that’s five years too many – it’s completely unacceptable.
Our five-year-long push for answers from this administration’s Pension Benefit Guaranty Corporation (PBGC) continued this week when Rep. Boehner joined Rep. Mike Turner, Senator Rob Portman, and the entire Ohio Republican delegation in requesting even more information from the PBGC.
Earlier this month, the Office of Inspector General (OIG) for the PBGC responded to an inquiry made in June by the Ohio Republican delegation on the PBGC’s lengthy delay in providing final benefit determinations for Delphi Salaried Retirees. The OIG’s response outlined the PBGC’s failure to provide sufficient justification for the undue delays and yielded substantially more questions than answers.
Said Boehner, “While I appreciate the PBGC’s response to the request that the Ohio Republican delegation made back in June … let me just say we have even more questions now than we had before our request.”
Most notably, the OIG inquiry uncovered that the PBGC has issued inconsistent responses to Freedom of Information Act (FOIA) requests and waited two years to hire a public accounting firm to begin the process of verifying the assets of the Delphi Salaried Retirees’ Plan.
“We will, without a doubt, continue pressing the PBGC until we get the answers that these Salaried Retirees deserve, and I applaud Rep. Mike Turner for his persistence and leadership on this,” Boehner said.