HR 1895In committeeLaborhouse

Delphi Retirees Pension Restoration Act

Introduced Mar 6, 2025 by Rep. Victoria Spartz

IntroducedCommitteeFloorCongressLaw

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Latest action · Mar 6, 2025

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.

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What it 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.

Summary by the Congressional Research Service.

Roll-call votes

No floor votes yet — it hasn't reached the floor of either chamber.