YOUNGSTOWN, Ohio (WKBN) – The U.S. Supreme Court has declined to hear the Delphi retirees’ case against Pension Guaranty Corporation in an effort to win back their retirement.
The case was filed by a group of salaried retirees fighting to have their pensions restored following the General Motors bailout.
Congressman Tim Ryan, who has been an advocate for the group, said Tuesday that the decision is disappointing.
“When the Delphi Salaried Pension Plan was terminated, this devastated the long-term financial security of the almost 22,000 salaried employees at Delphi whose benefits were subsequently reduced,” Ryan said.
Ryan said now is the time for Congressional action to restore the pensions.
“I will continue to work with my colleagues in both parties to do just that,” he said.
The pensions were lost during the 2009 Obama Administrations’ taxpayer-funded bailout of General Motors, which in turn led to the termination of the earned pension plans for the group of Delphi salaried employees.