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Full Pension Restoration and Back Pay for Delphi Retirees.

This Act aims to restore the full promised pension benefits for thousands of former Delphi employees whose plans were taken over by the PBGC. Retirees will begin receiving higher monthly payments, matching their original, full vested benefits. Crucially, they will also receive a large, one-time lump-sum payment covering the years they received reduced benefits, plus 6% interest.
Key points
Delphi retirees will receive the full amount of their promised pension, bypassing the standard maximum benefit limits set by the PBGC.
A lump-sum payment will be issued for all past underpayments, calculated with an additional 6% annual interest rate.
Taxpayers can choose to spread the income tax liability for the lump-sum payment over a three-year period.
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Status: Introduced
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Additional Information
Print number: 119_HR_1895
Sponsor: Rep. Spartz, Victoria [R-IN-5]
Process start date: 2025-03-06