DAYTON — Congressman Mike Turner released the following statement after sending a letter to Robert Westbrooks, Inspector General for Pension Benefit Guaranty Corporation (PBGC):
“The PBGC’s continued mistreatment of the Delphi Salaried Retirees warrants additional scrutiny from the independent Inspector General. It is my hope that we will gain further insight into the delays, lack of transparency, and repeated efforts to stonewall these retirees. The pensions and benefits these men and women earned over the course of their careers were unjustly terminated, and the PBGC must be held accountable for their actions.”
The letter requests that Inspector General conduct an inquiry into the agency’s actions in failing to provide retirees with information:
1. Plan Asset Audit for the Salaried Plan: Please determine the date of completion and what justification, if any, the PBGC has for informing plan participants that it has not yet been completed. If the document has not been completed, please determine how PBGC arrived at its final benefit determinations in the absence of the necessary supporting calculations and documentation.
2. Benefit Statement Worksheets: Please determine why PBGC has provided benefit determinations that fail to explain whether, and/or to what extent, a benefit comes from PBGC’s insurance guarantee, the Salaried Plan’s asset allocation, or the participant’s share in PBGC’s recoveries from Delphi and GM. Please also determine the cause of PBGC’s delays in fulfilling requests for Benefit Statement Worksheets.