American taxpayers could be given access to documents surrounding the Delphi Corp.’s attempt to move pensions for salaried retirees to a federal pension agency.
A group of 22 congressmen have asked the Auto Task Force to make the information available.
A letter authored by Rep. Christopher Lee, R-N.Y., was signed by the lawmakers and sent to Treasury Secretary Timothy Geithner, asking him to direct the Automotive Task Force to make public all documents concerning the default of the salaried employees pensions to the Pension Benefit Guaranty Corp.
Rep. Dan Burton, R-5th District, was the only member of the Indiana congressional delegation to sign the letter.
Delphi is seeking to default the pensions for 15,000 salaried retirees to the PBGC.
The Delphi Salaried Retirees Association is seeking to have General Motors Corp. assume the Delphi pensions, as is planned for the pensions of the United Auto Workers Union.
GM intends to purchase four Delphi plants, including the facilities in Kokomo, when it emerges from bankruptcy.
In their letter, the congressional representatives expressed concern for the “inequitable decision to default the Delphi Corp.’s salaried retiree pension plan to the PBGC, while General Motors agreed to assume the auto parts supplier’s hourly pension obligation.”
The congressmen estimate the retirees could lose as much as 70 percent of their pension payments.
“It is fundamentally unfair that two groups of employees from the same company, who worked side-by-side for so many years, are being treated so differently by the federal government,” the letter states.
Lee’s letter notes that taxpayers will own 60 percent of GM when it emerges from bankruptcy.
“They deserve a full and public explanation of how this inequitable decision was made,” wrote Lee.
The situation has become critical, according to Den Black, interim chair of the DSRA.
“We need more congressional and senatorial representatives, especially from ‘Delphi states’ to step forward to protect their constituents,” he said.
“Immediate steps must be taken to prevent the pension default,” Black continued. “This is a precedent-setting case that could determine outcomes for millions of other retirees whose former employers are under bankruptcy protection.”
Local News
Congressmen seek Delphi documents
Salaried retirees continue fight
- Local News
-
-
Entire U.S. 31 corridor now under contract
Every segment of the 13.1-mile, U.S. 31 Kokomo Corridor is now officially under construction.
-
Northwestern to graduate 130 seniors
Peyton Hite ended her last day in high school by going home and washing sheep.
“It’s part of living on a farm,” she said, with a laugh.
-
Drugs, cash seized, four arrested
Police from four agencies seized heroin, pills, syringes and cash, and arrested four people this week after a raid on a house on East Street, according to police reports.
-
Lafayette job fair expects Kokomo hopefuls
Organizers of a Lafayette job fair next week are reaching out to Kokomo residents looking for work.
-
Deputy prosecutor facing two charges
A Howard County deputy prosecutor will face two drunken-driving charges in connection with a traffic stop in Cicero.
-
Governor honors student
A Northwestern High School senior achieved a milestone Thursday when he became the first Indiana student ever to win both of the state’s top science awards.
-
Taylor considering staff reductions
A decline in enrollment has forced Taylor School Corp. to consider staff reductions, but the board won’t vote on the issue until next week, officials said Thursday.
-
Schools among top 20 in Indiana
Three area schools were ranked among the top 20 in Indiana this year by U.S. News and World Report.
Tri-Central Middle/High School, Eastern Junior-Senior High School and Tipton High School all made the list, which was an evaluation of 379 high schools across the state.
-
Library starts iPad rental program
Apple can’t make enough iPads to satisfy demand, but the Kokomo-Howard County Public Library now owns 15 iPad2 units.
Thursday, social media-conscious library patrons scrambled to borrow the tablet computers, on the first official day of the library’s iPad lending program.
-
Gov. names NW student 'Mr. Science' for 2012
Tyler Barnes becomes first Indiana student to be named Indiana's Top Young Scientist and Mr. Science.
- More Local News Headlines
-
NJ Man Charged With Murder in Death of Patz
Support, Fun for Kids of Fallen Soldiers at Camp
Fugitive Penguin Caught, Returned to Aquarium
50 Years Later, Underground Fire Still Burning
Light Show Transforms Sydney Opera House
Raw Video: Unruly Passenger Restrained in Miami
Raw Video: Robber Uses Drive-thru Window
Raw Video: Dragon Arrives at Space Station
Calif.'s Coronado Named Nation's Best Beach
CEO Salaries Become Sore Issue in Labor Disputes
Raw Video: Fight Erupts in Ukrainian Parliament
Texan Ranchers Remain Wary of Drought
Raw Video: Soldiers Plant Flags at Arlington
Police: Man Arrested in Etan Patz Disappearance
NYC Protests: the Revolution Will Be Scripted
Chicago U.S. Attorney Fitzgerald Resigns
Neighbors of Etan Patz's Suspect: It's Shocking
Gulf Fishermen Reel From Seafood Troubles
Stuntman Makes Skydive Without Parachute in UK
Raw Video: Bride Who Faked Cancer Released
