YOUNGSTOWN, Ohio (WKBN) – The U.S. Supreme Court had unwelcome news for the salaried Delphi retirees. It would not listen to their case against the Pension Benefit Guaranty Corporation.
For 13 years, the salaried retirees have been fighting the PBGC over the amount of money they’re receiving. The PBGC claims that Delphi’s salaried employees have been paid what they’re entitled to and it can’t pay more than the law permits. The high court refused to even consider the case.
“There are millions of people who have pension plans like ours. Yeah, and they decided that it wasn’t necessary to protect them,” said Bruce Gump.
The Supreme Court declining to take the case puts an end to the retirees lawsuit. They’re upset how the Obama Administration handled the 2009 General Motors bailout, allowing different employees to be treated differently, which led to the termination of the earned pension plans for the group of Delphi salaried employees.
“I think that the big thing is, is that there’s a major lesson here, Dave, and that lesson is that people need to protect themselves,” Gump said.
Across the U.S., 20,000 were affected by the pension cuts. Its been a battle since, with wins and losses.
“Yes, we have had victories along the way. We’ve forced the PBGC and the United States Treasury to give us an awful lot of information that they refuse to do so,” Gump said.
The retirees will continue to fight. The next step is working with politicians to find a way to resolve the issue and possibly reinstate the pension plan.
“Well, it’s politics, alright, so there’s no guarantees in anything, but it’s the best shot that we have. So yeah, we’ll be pushing on that as best as we can,” Gump said.
If the workers had their pensions restored, the impact in the Mahoning Valley would be about $100 million.