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Restore Delphi pensions ASAP



Published: Sun, September 23, 2012 @ 12:00 a.m.

For more than three years now, some 22,000 salaried retirees of Dephi Corp., including about 1,500 in the Mahoning Valley, have fought aggressively to plead their plight to the nation. For more than three years now, those pleas and protestations have fallen on deaf ears where it counts most – the highest echelons of the federal government.

At long last, however, thanks to the efforts of U.S. Sen. Sherrod Brown, D-Ohio, and U.S. Rep. Tim Ryan of Niles, D-17th, the retirees’ legitimate wishes for fair play may be granted. Brown and Ryan introduced this month legislation to restore the full pensions of Delphi retirees. Their bills call for using proceeds from the sale of General Motors Co. stock held by the federal government to establish a fund to provide the deserved payments and to make the salaried retirees’ pensions whole.

Fairness

It’s simply a matter of fairness to ensure all retirees are treated equally. The Pension Benefit Guaranty Corp. took over the plans when GM and Delphi went bankrupt. Since then, the PBGC has restored the full pensions and benefits of unionized GM and Delphi workers. But it threw only a few crumbs the way of the Delphi salaried retirees. In fact, many of the retirees have suffered cuts of up to 70 percent of their promised pensions.

Full restoration of those pensions is also simply a matter of community fairness. A YSU Center for Urban and Regional Studies investigation found that the economic impact of the stingy payouts on Mahoning and Trumbull counties hovers near $60 million annually. That’s $60 million that could work to help reinvigorate nearly every cog of the Mahoning Valley economy.

Members of the community can show their support for the retirees by lobbying for passage of the legislation and by signing an online petition that will be sent to the Obama administration. Go to www.delphipetition.com to enlist your support.


Comments

1Delphisalariedretirees(76 comments)posted 1 year, 12 months ago

Thanks, Vindy, for supporting the fact that our pensions should be restored (by the OBAMA ADministration, btw). And thanks for asking our community to support us (and our commnity) by signing the petition:

http://www.delphipetition.com/ .

And thanks to Sherrod & Tim for introducing a bill to do it. However, don't forget the fact that if they don't actually get the job done in one way or another, their bill is nothing more than a useless piece of paper. Now Congressmen, GET THE JOB DONE!

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2Delphisalariedretirees(76 comments)posted 1 year, 12 months ago

Well, said. The Delphi retirees do NOT consider the bill to be the solution. The ONLY thing that it does, is start the conversation to fix the problem.

A solution that requires NO taxpayer funds has already been presented to the Obama Administration. It uses money already in the PBGC, the agency that is "supposed" to protect pensions.

Once again, GET IT DONE, Brown & Ryan!!

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3Silence_Dogood(1341 comments)posted 1 year, 12 months ago

The U.S.Government spent 49.5 billion dollars for these stocks at an inflated purchase price of $33 per share. For the Government to BREAK EVEN we would have to receive $53 dollars per share. These stocks are selling for $21 dollars per share right now. So with that said , selling these stocks will be incurring a HUGE LOSS for the American taxpayers.This is the unsaid truth about this bailout, it was nothing more then a gift that was given to GM , putting companies like Ford at a competitive disadvantage. This is so unfair to companies that played by the rules. Democrats playing favorites in the marketplace with the American taxpayers money, plain and simple.

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4Freeatlast(1991 comments)posted 1 year, 12 months ago

Sad that so many have so much to say about something they know nothing about .
As far as the Delphi Salary , I HOPE you get, what is comeing to you with back pay , and at last you see who is the real ones standing up for you . GOOD LUCK and standing with you on this .

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5cathylukasko(116 comments)posted 1 year, 12 months ago

Sherrod Brown and Tim Ryan should have done this 3 years ago. By introducing this legislation, it shows they believe Delphi retirees are NOT smart enough to know it is a PLOY to get votes. Brown is tied with Josh Mandel for the Senate race and needs Delphi support. Sorry Congressman, Delphi retirees are smarter than that !

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6Delphisalariedretirees(76 comments)posted 1 year, 12 months ago

If Sherrod & Tim expect support in the election, they need to GET IT DONE BEFORE THE ELECTION.

Get it done, boys!!

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7rmzrez(114 comments)posted 1 year, 12 months ago

If Sherrod & Tim expect support in the election, they need to GET IT DONE BEFORE THE ELECTION
WOW
People come out to support you and the first thing you is threaten them !!!
UNBELIEVABLE!!!!!!

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8Delphisalariedretirees(76 comments)posted 1 year, 12 months ago

Perhaps you've forgotten that it's been THREE YEARS since the OBAMA Administration hosed us out of our pensions?

And perhaps you've forgotten that it was the DEMOCRATIC Party who is supposed to fix this? You know, the Party that is "supposed" to stand up for the people?

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9Delphisalariedretirees(76 comments)posted 1 year, 12 months ago

UNBELIEVABLE!!!!!!

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10Delphisalariedretirees(76 comments)posted 1 year, 12 months ago

Thank you Vindy, for informing the people that our pensions ought to be fixed. And thank you, voters, for signing our petition:

http://www.delphipetition.com .

It WILL be used come Nov 6th, unless this issue is resolved!!!

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11InterestedInAll2(11 comments)posted 1 year, 12 months ago

The Brown and Ryan bills suggest one way to treat the Delphi Salaried Retirees in a more fair manner than the Obama Administration did. It is not ALL Democrats that did this and many have spoken up for the retirees, including Brown and Ryan. The President's Auto Task Force did not even follow the President's direction and assure that all parties were treated fairly and nobody received anything they would not have received just because the government was involved. What they did was illegal which explains why they have worked so hard to keep their records hidden, just like Nixon did in the Watergate scandal. Apparently there is another offer on the table that doesn't require the sale of stock or any funds from taxes. If true then that sounds like a better and quicker path for the retirees and in turn our community! Let's all hope that the Obama Administration's efforts to use politics to determine which citizens are treated in which manner is set aside and corrected - quickly! I went to the www.delphipetition.com site and signed it and I hope thousands more do too. It was easy and just said the retirees should be treated fairly and have their full pensions restored. It said I would take that into consideration when I vote too, but that goes without saying anyway.

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12Delphisalariedretirees(76 comments)posted 1 year, 12 months ago

Thanks, and thank the mahoning Valley, who are coming thorugh in signing the petition!

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