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Committee Renews Request for Information on Delphi Pension Decision

Dear Secretary Geithner and Director Gotbaum:

The Committee on Education and the Workforce remains committed to overseeing the federal government’s restructuring of the General Motors Company (GM), and its consequences for the pension benefits of workers at the Delphi Corporation, a former subsidiary of GM.  Given recent media reports alleging conflicts of interest and efforts by the Treasury Department to drive negotiations that led to a significant reduction in non-union worker pensions, the committee again respectfully requests related documents and communications.

On December 2, 2009, during a Subcommittee on Health, Employment, Labor, and Pensions hearing entitled: “Examining the Delphi Bankruptcy’s Impact on Workers and Retirees,” committee members heard troubling testimony about how workers and retirees will be negatively affected by Delphi’s bankruptcy and the federal government’s restructuring of GM. Specifically, some unionized Delphi workers and retirees will receive the full pension benefits they were promised, while salaried workers and retirees will face significant reductions in their benefits.

To read the full letter, click here.

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