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HR 1895 · 119th Congress — Delphi Retirees Pension Restoration Act

Delphi Retirees Pension Restoration Act 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'…

Congress
119
Bill
HR 1895
Status
Introduced
Introduced
2025-03-06
Latest action date
2025-03-06

Summary

Delphi Retirees Pension Restoration Act 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. Right now, the latest action is: Sent to the Education and Workforce Committee and the Ways and Means Committee. Each committee will review the parts it handles. The listed sponsor is Rep. Spartz, Victoria [R-IN-5] [R].

This summary may describe an earlier version. Check the official record for current wording.

Latest action

Referred 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.

Sponsors

Sources