[Congressional Record (Bound Edition), Volume 158 (2012), Part 1]
[House]
[Page 834]
[From the U.S. Government Publishing Office, www.gpo.gov]




         PBGC SHOULD RESTORE DELPHI SALARIED RETIREES PENSIONS

  (Mr. TURNER of Ohio asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. TURNER of Ohio. Mr. Speaker, today our colleagues at the 
Education and Workforce Committee held a subcommittee hearing looking 
into the challenges facing the Pension Benefit Guaranty Corporation.
  Perhaps one of the greatest challenges facing the PBGC is 
transparency. The PBGC will not release even the most basic documents 
explaining the denial of the full earned pension benefits of the Delphi 
salaried retirees. Perhaps it is because of the many conflicts of 
interest that existed between the Treasury Department and the PBGC.
  When these pensions were turned over to the PBGC, approximately 
20,000 current and future salaried retirees were subjected to benefit 
cuts of up to 70 percent. The hardworking taxpayers whose tax dollars 
were used to pay for the auto bailouts deserve to know who made these 
decisions to cut these pensions and why they are made.

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