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Labor and WelfareH.R. 1895Not Yet VotedComments

Delphi Retirees Pension Restoration Act

Official title: To increase the benefits guaranteed in connection with certain pension plans, and for other purposes.

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What Happened in Congress?

Pending

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Where the Bill Stands

  1. Introduced, done
  2. Committee, current stage
  3. Floor Vote, not yet
  4. Outcome, not yet

What This Bill Does

This bill restores the full vested monthly benefits for eligible participants of certain pension plans that were sponsored by Delphi Corporation and terminated as a result of General Motors' bankruptcy in 2009.

The Pension Benefit Guaranty Corporation (PBGC) must recalculate and adjust each plan participant's monthly benefits payment. The PBGC must also apply the recalculation to previously-made monthly payments and make a lump-sum payment for any additional benefits based on the recalculation.

Monthly benefits under the bill must be paid using specified PBGC funds, and the bill specifies how the lump-sum payments are treated for tax purposes.

Sponsors

Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. Library of CongressIntroduced in House
  2. House floor actionsReferred to the Committee on Education and Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  3. Introduced
  4. Committee

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