breaking news

Clark County families preserve farmland for more than 200 years

Treasury Dept. agrees to meet with Delphi workers about pensions


Representatives of the U.S. Department of Treasury say they will meet with Delphi retirees who saw their pensions slashed by up to 70 percent as a result of the 2009 auto bailout.

Sens. Sherrod Brown, D-Ohio, and Rob Portman, R-Ohio, and three other U.S. senators sent a letter to Treasury Secretary Jacob Lew last month urging him to meet with Delphi salaried retirees to review their proposal to restore the lost pensions. In a letter sent to Brown yesterday, Alistair Fitzpayne, assistant secretary for legislative affairs for Treasury wrote that the department “is happy to schedule a meeting with” the retirees.

Fitzpayne said, however, that Treasury has met with representatives of the association before “and is happy to continue discussing this matter with them.”

“We recognize that the bankruptcies of GM and Delphi have been extremely difficult and challenging for all their employees and retirees,” Fitzpayne wrote, but added that the bailout “kept over one million Americans employed.”

Tom Crosson, a spokesman for Rep. Mike Turner, R-Dayton, said such a meeting “is long overdue.”

Brown, as well, called for a solution.

“I will continue to stand by the Delphi retirees as they make their important case to the Administration,” Brown said.

The 2009 auto bailout restored pensions of union Delphi retirees, but slashed pensions of more than 20,000 non-union salaried retirees, including about 700 in the Dayton area by anywhere from 30 to 70 percent.

Tom Rose, a Delphi retiree from Washington Twp., said he was happy to hear the news. He said retirees have offered a plan that would not cost any taxpayer money but would pay for salaried employees’ pensions retroactively and moving forward.

“We’ve been wanting to meet with them forever,” he said.


Reader Comments ...


Next Up in Business

Meet the most generous book lover in Yellow Springs
Meet the most generous book lover in Yellow Springs

Countless books of the odd and unexpected varieties are in the hands of many people who have visited Yellow Springs, thanks to Kate Mooneyham.  >> 5 things to do in Yellow Springs Mooneyham, manager of Dark Star Books in Yellow Springs, has been consistently placing a large box of FREE books in the alley behind her and her mother&rsquo...
Good Samaritan closing: Employees still in shock 
Good Samaritan closing: Employees still in shock 

A day after the announcement that Good Samaritan Hospital will shut its doors for good at the end of the year, employees said their still trying to come to grips with the initial shock.  Some didn't know anything about it prior to the announcement, while others say they'd heard behind-the scenes rumblings. But all of them said Thursday that there's...
Premier planning to redevelop Good Sam site once hospital closes
Premier planning to redevelop Good Sam site once hospital closes

Premier Health officials have told this news organization that they want to "transform" the soon-to-be former main campus of Good Samaritan Hospital once the facility closes at the end of the year. They don't know exactly what redevelopment will look like on the site once the buildings are razed, but they say it's a process they will be...
Wright State settled for nearly $2 million with feds over student aid issues
Wright State settled for nearly $2 million with feds over student aid issues

An audit released by the state on Thursday revealed a nearly $2 million settlement between Wright State University and the U.S. Department of Education and sheds more light on the school’s financial troubles and ongoing investigations. On Nov. 1, Wright State agreed to pay more than $1.98 million for issues stemming from a routine 2015 federal...
Fairborn first in nation to test Air Force tech for police, fire
Fairborn first in nation to test Air Force tech for police, fire

The city of Fairborn will be the first municipality in the nation to test Air Force Research Laboratory-developed technology to separate radio chatter that tends to get jumbled in emergency situations, officials say. GlobalFlyte, a self-described transformative technology firm, developed the integrated management system from both Air Force research...
More Stories