S. 3544 (112th): Delphi Pensions Restoration Act of 2012

Sep 13, 2012 (112th Congress, 2011–2013)
Died (Referred to Committee) in a previous session of Congress

This bill was introduced on September 13, 2012, in a previous session of Congress, but was not enacted.

Sep 13, 2012
Sherrod Brown
Senator from Ohio
Read Text »
Last Updated
Sep 13, 2012
6 pages
Related Bills
H.R. 6404 (identical)

Referred to Committee
Last Action: Sep 13, 2012

Full Title

A bill to make available funds from the Emergency Economic Stabilization Act of 2008 for funding pension benefits with respect to former employees of Delphi Corporation.


No summaries available.

2 cosponsors (2D) (show)

Senate Banking, Housing, and Urban Affairs

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Primary Source

THOMAS.gov (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

Delphi Pensions Restoration Act of 2012 - Amends the Emergency Economic Stabilization Act of 2008 to require transfer to the Delphi Retired Employees Fund of all proceeds from the sale or transfer, after enactment of this Act, of any stock, warrant, or financial instrument acquired by the Secretary of the Treasury in connection with providing financial assistance to the General Motors Corporation (GM).
Establishes the Delphi Retired Employees Fund in the Treasury for payments to eligible employees separated from Delphi Corporation who participated in a now terminated Delphi-sponsored defined benefit plan, but who are not covered by any agreement between GM and participants in another defined benefit plan under which GM pays covered participants nonforfeitable benefits equal to the amount they would have been entitled to receive under the plan but for the plan's termination.
Makes the Fund available to pay each eligible separated employee an amount equal to such nonforfeitable benefits, reduced by any amounts already paid the employee by the Pension Benefit Guaranty Corporation (PBGC) under the Employee Retirement Security Act of 1974 (ERISA).

House Republican Conference Summary

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House Democratic Caucus Summary

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