Install
Delphi Retirees Pension Restoration Act
To increase the benefits guaranteed in connection with certain pension plans, and for other purposes.
- Introduced
- Committee
- Passed House
- Passed Senate
- To President
- Became law
Summary
Delphi Retirees Pension Restoration Act
This bill restores the full vested monthly benefits for eligible participants of certain pension plans that were sponsored by Delphi Corporation and terminated as a result of General Motors' bankruptcy in 2009.
The Pension Benefit Guaranty Corporation (PBGC) must recalculate and adjust each plan participant's monthly benefits payment. The PBGC must also apply the recalculation to previously-made monthly payments and make a lump-sum payment for any additional benefits based on the recalculation.
Monthly benefits under the bill must be paid using specified PBGC funds, and the bill specifies how the lump-sum payments are treated for tax purposes.
Summary by the Congressional Research Service, Library of Congress.
Actions
- Mar 6, 2025 Referred to the Committee on Education and Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Mar 6, 2025 Introduced in House
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