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White House Orders Review of Delphi Pension Fund Termination
Pensions & Investments 
Oct. 23, 2020 "One group of salaried plan participants sued unsuccessfully to challenge the PBGC's takeover of the plan, which at the time of termination in 2009 had $2.5 billion in assets and $4.5 billion in liabilities, for a funding ratio of 56% ... President Donald Trump directed the secretaries of Labor, Commerce and Treasury to review whether the PBGC can restore the full pension benefits of 20,000 Delphi participants and review the decision to terminate the pension plan. The order gives 90 days for the review to see what actions can be taken to restore the full pension benefits." |
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