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| From © The Flint Journal |
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Kildee says concerns for Delphi pensioners helped lead to today's congressional hearing |
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December 2, 2009By Ron Fonger |
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FLINT -- U.S. Rep. Dale Kildee, D-Flint, said he hopes a congressional hearing about Delphi's bankruptcy today will lead to better protections for retirees of other failed companies in the future.
"We need to give retirees a better place in line than they have now," Kildee told The Flint Journal Tuesday. "There are always other (interests) elbowing them out of what the company has left."
Kildee has pushed for today's hearing on the Delphi bankruptcy and its effect on workers and retirees for the company for some time. The congressman's office says more than 11,000 workers and retirees in his district have been hurt by Delphi's bankruptcy.
Many of those retirees, the congressman said, are facing significant cuts in pension payments because Delphi's salaried pension obligations are defaulting to the Pension Benefit Guarantee Corporation.
"I know a lot of those salaried Delphi people looked at that pension as a promise ... like deferred compensation," Kildee said.
Live video of the hearing of the Subcommittee on Health, Employment, Labor, and Pensions will be available online.
The hearing is scheduled to start at 10:30 a.m. Kildee, the co-chair of the Congressional Automotive Caucus, is expected to participate in the hearing. |
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