What is the official ID of this bill?
The official print number for this legislation is S 2277.
Restoring Full Vested Pensions for Delphi and Related Plan Retirees
The Susan Muffley Act restores full, earned pension benefits for thousands of former employees and beneficiaries of six specific terminated pension plans, primarily associated with Delphi. This means eligible individuals will receive the full amount they accrued, rather than the previously limited guaranteed amount. Furthermore, they will receive a lump-sum payment covering years of underpayment, plus 6% interest.
Key points
Full Benefits Restored: Participants in six specified pension plans (including Delphi) will now receive 100% of their full vested benefits, overriding previous government guarantee limits.
Back Pay and Interest: Eligible citizens who received reduced benefits will receive a lump-sum payment for all past underpayments, increased by 6% annual interest for each month of shortfall.
Tax Relief Option: The lump-sum payment can be spread out and included in taxable income ratably over a three-year period, helping manage the tax burden.
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.