North Indy News

Congresswoman Victoria Spartz, representing Indiana's 5th district, alongside thirteen House colleagues, has introduced a bipartisan bill aimed at restoring the retirement benefits of Delphi retirees. These benefits were lost following the auto industry collapse and Delphi's bankruptcy in 2009.

In July 2009, the pension plan for over twenty thousand salaried employees was dissolved, and its assets were transferred to the Pension Benefits Guarantee Corporation (PBGC). The financial downturn left these assets insufficient to cover pension liabilities, resulting in reduced retiree benefits.

The proposed legislation intends to use the appreciated assets formerly held by the Delphi Salaried Pension Plan, now under PBGC management, to restore these benefits without impacting the federal budget.

"This bill restores retirement benefits for thousands of hard-working Americans wronged by the politics of an auto-industry bailout in 2009 with no fiscal impact to the taxpayers,” stated Congresswoman Spartz. “This issue has not been resolved for too long, and I appreciate the bipartisan support to finally bring justice for so many people around the country.”