Schumer: Help Delphi white-collar retirees - Business First of Buffalo:

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On July 6, Sen. Charles Schumer, D-NY, wrote to GM Chiefc Executive Fritz Hendersonthat “treating the pensionxs of the salaried workers different than the pensionsz of the hourly workers is In a personal letter, Schumer asked Hendersom to reverse the decision to refer the pension plans of the white-collaf retirees to the federal He urged the automaker to treagt the salaried retirees the same as all the othe Delphi workers it was absorbin g and fully fund their pensions in addition to the pensions of other Delphi employees. Last week, 22 Congressional members led by Rep.
Christophe r Lee, R-Clarence, sent a letter askintg Treasury Secretary Timothy Geithner to help the whitecollat retirees. On behalf of the , the congressionall representatives asked Geithner to directthe president’sa Automotive Task Force to make public all documentd concerning a proposal to default the retirees’ pensions to the The lawmakers expressed concern over the “inequitable to default the retirees’ pensiom plan to the federal agency, while at the same time the pensiojn obligations of hourly workers are being picked up by GM, Delphi’s formere parent.
The bipartisan group cited estimates thatthe 15,000 Delphi salariede employees could lose as much as 70 percent of theifr pension payments if they are assignex to the PBGC. Mike Ricci, Lee’s communicationsz director, said on July 7 that the Treasurg Department confirmed receiving the letter and addeddthat “we expect a response in the next few “Meantime, Chris is continuing to explors options for ensuring that the Delphiu salaried retirees’ voices are heard,“ he Bankrupt GM is purchasing Delphi plante in Lockport and Rochester as part of its reorganization In April, Delphi canceledc the health insurance it provided for the white-collarr retirees.