Delphi retirees fighting for their pension benefits lost another court battle last week.
A district court in eastern Michigan said the Delphi salaried retirees offered no evidence to support their claim that the Pension Benefit Guaranty Corporation (PBGC) violated the law when their pensions were terminated.
The ruling affects 22,000 workers nationwide — 1,500 of whom are in the Valley.
They still receive a pension, but it’s between 30 and 70 percent less than what they claim it should be.
“I’m extremely disappointed by the court’s decision,” Congressman Tim Ryan said. “The Delphi retirees put in a lifetime of work, investing in their retirement, and yet the rug was pulled out under them. This federal ruling denies them their hard-earned pension — that’s not right. Retirement should be a protected asset in this country. And regardless of our political affiliation and employment status, we all should be fighting for income and retirement security.
The retirees have been fighting this battle since 2009. It started when PBGC made the decision to take over more than $6.2 billion in new liabilities as the trustee of six Delphi pension plans.
Retirees claim PBGC improperly terminated the plans through an agreement with Delphi and General Motors following Delphi’s 2005 bankruptcy filing.