Administration fights unjust pension termination of Delphi salaried retirees
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After fighting for their pensions for more than a decade, Delphi Salaried Retirees Association members have found hope and are being helped by President Trump.

During the Obama administration’s 2009 taxpayer-funded General Motors (GM) bankruptcy bailout, President Obama’s auto task force led to the Pension Benefit Guaranty Corporation (PBGC) terminating the earned pension plans of more than 20,000 Delphi Automotive salaried retirees.

This decision by the Obama administration to pick winners and losers in the GM bankruptcy bailout caused devastating financial losses to Delphi employees and their families, since they depended on their pensions to survive during retirement, pensions earned through decades of faithful service. Some retirees have lost as much as 70 percent of their benefits. “According to a Treasury document, it was estimated that Delphi Salaried Retirees would lose approximately $440 million in pension benefits,” reported the Special Inspector General of the Troubled Asset Relief Program (SIGTARP).

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We have been collaborating to right this obvious wrong perpetrated against these hard-working Americans. Now, President TrumpDonald TrumpSenators given no timeline on removal of National Guard, Capitol fence Democratic fury with GOP explodes in House Georgia secretary of state withholds support for 'reactionary' GOP voting bills MORE has proven yet again that he supports American workers by directing his Cabinet and the PBGC to resolve this matter.

In 2012, then-Vice President Biden told a Youngstown news station: “We can’t direct [PBGC] to make good on all of the pensions. We were able to protect the hourly workers. Some salaried workers got hurt, particularly the younger ones.” Now that he’s a candidate again, however, Biden is saying something different: “I’m gonna do everything I can to figure out how [salaried retirees] can be brought in … They deserve their pension … These are hard-working folks. Spent years and years relying on this so they could retire and have everything from their health care to a decent life, and they deserve it.”

What changed, Mr. Biden?

Actually, nothing changed. The Obama-Biden administration had the ability to take the same action that President Trump is now taking. Guaranteeing pension benefits is in the PBGC’s name — it’s the whole purpose of the PBGC, and it has the legal authority to restore a terminated pension. Additionally, members of any president’s Cabinet serve on the board of the PBGC; any president could right this wrong. President Obama and Vice President Biden failed to do that. President Trump will succeed where they failed.

SIGTARP, in its report on the Obama Treasury’s role in GM’s Delphi pension decisions, showed criticism of the disparate treatment of Delphi salaried employees. SIGTARP reported that the Delphi Salaried Retirees had no leverage in the bankruptcy process, although the Obama administration’s auto task force provided United Auto Workers (UAW) employees a seat at the table. More than 20,000 families have been hurt by President Obama and Vice President Biden’s decision more than a decade ago to pick winners and losers in the taxpayer-funded bailout and leave Delphi’s salaried retirees out in the cold.

President Trump knows the PBGC needs to correct this absolute injustice from the Obama-Biden era. He is doing now what Obama and Biden should have done then: demanding a resolution for these workers’ pensions. He is proud to be helping the Delphi Salaried Retirees after 11 long years of fighting the previous administration’s decision, and he’ll continue to fight for American workers.

Mike TurnerMichael Ray TurnerSunday shows preview: CDC school reopening guidance stirs debate; Texas battles winter freeze Former Ohio Treasurer Josh Mandel jumps into Senate race Democrats will expand their Senate majority in 2022 MORE represents Ohio’s 10th District and Peter Navarro is White House Director of Trade and Manufacturing Policy.