Market Probability

No market

Status

Introduced

Committee

Floor Vote

Other Chamber

Signed

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.

Sponsor

Rep. Spartz, Victoria [R-IN-5](R-IN-5)

20 cosponsors

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.

Subjects

Congressional oversightEmployee benefits and pensionsGovernment trust funds

Actions (4)

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.

Mar 6, 2025House floor actions

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.

Mar 6, 2025House floor actions

Introduced in House

Mar 6, 2025Library of Congress

Introduced in House

Mar 6, 2025Library of Congress