President Donald Trump has proposed a $1 billion payout to compensate more than 20,000 non-union retirees from Delphi Corp.
, nearly two decades after General Motors' bankruptcy slashed their benefits by 30 to 70 percent.
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The request was included in an $87.6 billion supplemental budget letter sent to House Speaker Mike Johnson, with most funds earmarked for military operations in Iran.
Long-Awaited Relief
Delphi Corp.
, once a major automotive parts supplier established by GM in Michigan, saw its pension plans terminated during GM's 2009 bankruptcy.
While union retirees retained their benefits, non-union workers were left with drastically reduced pensions.
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Affected retirees have spent years fighting in court for compensation.
The Pension Benefit Guaranty Corporation took over the salaried retirees' plan and reduced benefits, a move upheld by the US Court of Appeals for the 6th Circuit and the US Supreme Court in 2022.
Trump's budget request now offers a potential resolution, though it faces an uncertain path through Congress.
The timing of the proposal, just months before midterm elections, has drawn attention.
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Compensating former Delphi employees could be a significant issue in the Midwest, where many retirees live.
