US - Two congressional groups have requested the US federal government and General Motors (GM) provide information on Delphi Corporation's salaried retirees that "has been requested numerous times and ignored as many times".
Members of the House of Representatives Committee of Education and Labor John Kline and Tom Price asked George Miller, the chairman of the committee, to subpoena all relevant documents related to the treatment of Delphi retirees' pension benefits by the Obama administration.
In addition, representative Dan Burton and other members of the House Committee on Oversight and Government Reform, released a letter written to Ed Whitacre, chairman of GM - Delphi former parent company -, seeking "all records and communications between GM, and the federal government regarding GM's decision to discriminate against non-union workers while spending billions on union pensions".
The letter said: "The executives of GM with the tacit or explicit approval of the Obama Administration - the majority owner of GM - deliberately denied more than 21,000 salaried Delphi retirees nationwide the pension benefits they were promised."
This is the latest development in a fierce controversy over the termination of Delphi's salaried retirees pension plan which started in June last year, when Delphi announced it would have abandoned its pension fund as it emerged from bankruptcy.
The firm said its salaried pension plan would have been assumed by the Pension Benefit Guaranty Corporation, while its hourly pension plan will be assumed by GM. (Global Pensions, June 2, 2009)
Last month, 32 members of the US Congress wrote to president Obama asking for his intervention in the dispute surrounding Delphi's salaried retiree pensions.(Global Pensions, March 1, 2010)
Delphi Salaried Retiree Association Interim chairman Den Black said: "I'm delighted that the patience of many members of Congress is wearing thin regarding the stonewalling by GM and our government."
He added: "It is our belief that the US government is constitutionally required to treat all citizens with equal protection. Therefore when the government chooses to enter an industrial bankruptcy, it cannot choose winners and losers."
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The cross industry guaranteed minimum pension (GMP) equalisation working group has formed five sub-committees to each work on a key component of the guidance.
KAS Bank has launched an end-to-end cost transparency solution for defined contribution (DC) schemes to assist in the delivery of chair's statements.