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Compass
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Presidential Memorandum Stirs Long-Simmering Pension Issues
The Wagner Law Group Oct. 30, 2020 "In taking over the Delphi Salaried Pension Plan, the PBGC incurred about $2 billion in insurance losses. Retirees lost another $500 million in non-guaranteed benefits. An association of former salaried employees sued to undo the takeover.... [In] March 2019, ... the district court upheld the takeover. The Sixth Circuit affirmed in September 2020. In the meantime, the association lobbied Congress and the Executive Branch." [Black v. PBGC, No. 19-1419 (6th Cir. Sept. 1, 2020)] |
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