Lawmakers Ask Supreme Court to Hear Delphi Case
Seventeen members of Congress have joined the legal fight of thousands of Delphi salaried retirees at the nation’s highest court, urging it to consider their case against the Pension Benefit Guaranty Corporation and its takeover of the retirees’ pension plan when the auto-parts maker when bankrupt.
The bipartisan, bicameral group of lawmakers led by Dayton Republican U.S. Mike Turner filed a brief with the U.S. Supreme Court, arguing a review is in order because they claim:
A lower court that dismissed the case brought by the Delphi Salaried Retirees Association, “failed to properly consider the history and circumstances” when it determined the retirees did not have a property interest in their vested, but unfunded benefit; and
The precedent set by the PBGC and the U.S. Treasury Department in not fully funding the pensions “serves to undermine public confidence in government sponsored pension insurance and Executive Agency action during a financial crisis,” the filing states.
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Morning Journal by Ron Selak, Jr.. Published November 1, 2021.