Timeline of events for Delphi, pensions

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Timeline of events for Delphi, pensions

Timeline

May 1999: Delphi is spun off from General Motors to become an independent company. Delphi at the time had about 15,000 workers in the Dayton area.

October 2005: Delphi files for Chapter 11 bankruptcy protection.

July 2009: Delphi relinquishes retiree pensions to the Pension Benefit Guaranty Corp. The move means retirees will see their pensions reduced.

September 2009: Delphi retirees file a lawsuit against the PBGC in Detroit’s federal court for restoration of their pensions.

October 2009: Delphi emerges from bankruptcy, a few months after GM leaves its own stint in Chapter 11. With the backing of the U.S. Treasury, GM agrees to honor a pact with UAW-represented retirees topping off or supplementing their pensions in the event of a Delphi bankruptcy. GM also supplemented the pensions of retirees from two other unions.

The salaried retirees don’t begrudge their union counterparts their pensions. But they have questioned the legality of GM making such a payment after bankruptcy. And they want their own full pensions.

November 2011: The U.S. House Committee on Oversight and Government Reform holds a hearing at Sinclair Community College on the handling of Delphi pensions.

September 2012: About 300 Delphi retirees rally near a former Delphi plant just east of South Upland Avenue.

Mid-March 2013: Attorneys for Delphi salaried retirees expect to depose under oath high-ranking PBGC officials.

The Dayton Daily News has covered this important story from the start and will continue to follow the issue until it is resolved. No other news organization in the area has provided more coverage of the events that occurred before, during and after the General Motors and Delphi bankruptcies.

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