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Salaried retirees from Delphi Corp. expected to testify
By Don Shilling
Salaried retirees from Delphi Corp. are expected to testify about their reduced pensions before a congressional subcommittee.
U.S. Rep. Tim Ryan of Niles, D-17th, said Friday that the House Subcommittee on Health, Employment, Labor and Pensions has agreed to have a pension hearing in the next few weeks and include Delphi retirees.
It isn’t known yet who will testify.
Ryan said the hearing likely will take up broader pension issues, such as the solvency of the federal Pension Benefit Guaranty Corp., but he expects the Delphi pensions to be a main issue.
“This is a terrific thing,” said Bruce Gump of Howland, who is a member of the Delphi Salaried Retirees Association. “Congressman Ryan has worked hard for a hearing by this committee.”
Gump will testify Thursday at a Senate committee hearing on pensions. The Senate Health, Education, Labor and Pensions Committee is considering pension reform Thursday. Sen. Sherrod Brown, D-Avon, is a member of that committee.
Ryan is a former member of the House subcommittee, but he said he has been pressuring current members to schedule a pension hearing.
He said he intends to use the testimony from the hearing to continue to raise awareness about Delphi retirees’ having their pensions trimmed.
“It’s a critical step for us to get this kind of attention. We need to keep hammering away,” he said.
Ryan said the goal is for Congress to find a way to restore the pensions of Delphi workers, but he added that such a measure will take time.
Salaried retirees are facing pension cuts of between 30 percent and 70 percent as their pensions are taken over by the PBGC, a federal agency that insures pensions.
The agency doesn’t cover supplemental pensions that were given to younger workers to encourage them to retire early. The supplemental pensions were to last until retirees were 62 and eligible for Social Security.
Delphi, the parent company of Warren-based Delphi Packard Electric, dropped its pension plan during a bankruptcy case.
Area residents who are hourly retirees from Delphi are hoping to avoid the pension cuts. General Motors, Delphi’s former parent, has agreed to make up the difference in pension benefits for the hourly retirees. The deal has yet to be approved by a bankruptcy court judge, however.
Delphi’s hourly and salaried retirees also had their health-care plans revised so that they are more expensive.
shilling@vindy.com
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Comments
My heart goes out to these Management Employees ! But don't hold your breath. Do you know how many companies have reneged on their promises of pension ? One for instance was Mullins in Salem,Ohio.My Uncle and other people worked there for 30 years and recieved $30.00 dollars per year. And the money just disappeared.Now most may be dead now I kept some of his check stubs just for this reason if Saviour Ryan wants to ckeck this comment. But he's one of the ones that don't read bills and just signs them. My people came up through the depression First was the horse. You had to feed,care, and groom it so you could carry the Cream to the rail yards for Processing. Then as time evolved we invented the Automobile. The Truck was so important and made thing faster. But it had to paid too ! Oil changes,tires, chains and so on. Now to day in the 21 st century we don't pay the Horse,Truck, or Human Being in this case. So where did the Money Go ? What got this Rat Company in this situation was Greed and only Greed. Go luck Retirees !
We need Jimbo, not Timmy Ryan as our congressman. Timmy is playing to the Delphi crowd while all the other businesses that have gone bankrupt have given up the pension and medical benefit ghost. There is not a chance in this world that the Delphi folks will get what they want.
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TO UNIONFOREVER:
WHILE I WILL DEFEND YOUR FREEDOM TO GIVE YOUR OPINION TO THE WORLD I WILL NOT DEFEND YOUR POOR REPRESENTATION OF THE FACTS. I AM A DELPHI SALARIED RETIREE.
MAYBE I CAN HELP YOU UNDERSTAND THE CONCEPT OF FIGHTING FOR YOURSELF.
THERE ARE SEVERAL COMPONENTS TO OUR FIGHT. THE FIRST ONE IS THE HARD WORK AND MONEY THE SALARIED RETIREES HAVE PUT FORTH IN MANY STATES.
THE LOCAL IUE RETIREES ALSO JOINED THE FIGHT WITH THEIR HARD WORK AND MONEY. A JOINT UNION/MANAGEMENT EFFORT IS ALMOST UNPRECEDENTED. TOGETHER, WE ARE FIGHTING FOR FAIRNESS FOR ALL WORKING GROUPS, INCLUDING YOU.
ANOTHER COMPONENT IS THE POLITICAL COMPONENT. TIM, SHERROD BROWN, DAVE BETRUS, GOVERNOR STRICKLAND AND ATTORNY GENERAL CORDRAY HAVE SPENT RESOURCES ON OUR BEHALF.
TIM OPENED THE DOOR FOR AN IMPACT STUDY BY YOUNGSTOWN STATE UNIVERSITY. THE STUDY SHOWS EXACTLY HOW THE MAHONING VALLEY WOULD DIE WITHOUT OUR TOTAL PENSION FUNDING.
MY FINAL COMMENT GOES TO YOUR STATEMENT ABOUT THE OTHER BUSINESSES WHO....HAVE GIVEN UP. THERE IS THE DIFFERENCE. WE HAVE NOT GIVEN UP.
WE WILL NOT GIVE UP UNTIL WE HAVE EXHAUSTED EVERY RESCOURCE. IN FACT OUR CHAIRMAN, BRUCE GUMP HAS COINED THESE WORDS...DON'T YOU DARE GIVE UP!
WE THANK AND APPRECIATE ALL THE RESCOURCES THAT SUPPORT US IN OUR FIGHT.
This a Losing cause I'm sorry !Your no different than anyone else. Those State Reps that you mention could care less about you. As far as the Study YSU preformed. It's just that a study not FACT!