Download or read book Delphi Pension Plans written by Government Accountability Office and published by . This book was released on 2017-08-17 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Pension Benefit GuarantyCorporation (PBGC) terminated theunderfunded six qualified definedbenefit (DB) plans of the DelphiCorporation, a former subsidiary ofGeneral Motors (GM), in July 2009.Given questions about how PBGCcame to terminate the plans, whethertreatment for certain Delphi workerswas preferential, and the role of theU.S. Department of the Treasury(Treasury) in these outcomes, GAOwas asked to answer the followingquestions:(1) What precipitated PBGC's decisionto terminate Delphi's plans and whatwas Treasury's role, if any? (2) What actions did PBGC take tosecure Delphi domestic and foreignassets as part of its recovery process? (3) Why will certain Delphi employeesreceive reduced pension benefits andothers will not?(4) What information wascommunicated to employees about thetermination of their plans?GAO issued a timeline of key eventsleading to the plans' termination inMarch 2011 (GAO-11-373R). Toexamine the issues more fully for thisreport, GAO analyzed additionalinformation from PBGC, Treasury, GM,Delphi, and Delphi employee groupsand unions, and interviewed representatives from thoseorganizations. For comparisonpurposes, GAO also reviewed thetermination and recovery processes forall ten firms with the largest terminationclaims from plans trusteed by PBGC.Treasury's comments generally agreedwith GAO's findings and conclusions. What GAO FoundAs a result of the termination of Delphi's pension plans in July 2009 and statutorybenefit limits, many Delphi retirees will receive less from PBGC than their fullbenefit promised by Delphi. However, some of those experiencing statutoryreductions will still receive their full benefits because of union agreements withGM. With respect to PBGC's role in the process, the steps taken to terminate theplans and reduce some benefits according to statutory limits are consistent withPBGC's usual actions when terminating large plans.

Download or read book Delphi pension plans written by United States. Government Accountability Office and published by . This book was released on 2011 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Key Events Leading to the Termination of the Delphi Defined Benefit Plans written by and published by DIANE Publishing. This book was released on with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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Download or read book Delphi Pension Plans written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Government Accountability Office (GAO) is an independent agency that works for Congress. The GAO watches over Congress, and investigates how the federal government spends taxpayers dollars. The Comptroller General of the United States is the leader of the GAO, and is appointed to a 15-year term by the U.S. President. The GAO wants to support Congress, while at the same time doing right by the citizens of the United States. They audit, investigate, perform analyses, issue legal decisions and report anything that the government is doing. This is one of their reports.

Download or read book Delphi Bankruptcy written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-05-14 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: DELPHI BANKRUPTCY: Termination of Delphi Pension Plans

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Download or read book Delphi Pension written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-05-16 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Delphi Pension: Key Events Leading to Plan Terminations

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Download or read book Delphi Bankruptcy written by A. Nicole Clowers and published by . This book was released on 2013-02-17 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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Download or read book Examining the Delphi Bankruptcy s Impact on Workers and Retirees written by United States. Congress. House. Committee on Education and Labor. Subcommittee on Health, Employment, Labor, and Pensions and published by . This book was released on 2010 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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