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Republicans, Democrats Pressure Biden for Plan on Restoring Delphi Pensions

by Breitbart
July 25, 2021
in Finance
Republicans, Democrats Pressure Biden for Plan on Restoring Delphi Pensions

Joe Biden Campaigns In Warren, Michigan Republican and Democrat lawmakers are asking President Joe Biden’s administration for its plan to restore the pensions of about 20,000 Delphi workers following a pension-slashing scheme during the Obama administration’s auto bailout.

In 2009, as part of the Obama-Biden administration’s taxpayer-funded bailout of General Motors (GM), the Pension Benefit Guaranty Corporation (PBGC) terminated the pension plans of about 20,0000 non-unionized Delphi workers. In some cases, workers had their pensions gutted by as much as 75 percent.

A federal report in 2013 detailed that the Delphi workers would likely have their pensions cut by an estimated […]

Read the rest of this story here: www.breitbart.com

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