Rejected by courts, retirees take last shot to save pensions [View all]

https://apnews.com/article/general-motors-co-congress-government-and-politics-703a3aa25278634996c0bc0414575767

By FATIMA HUSSEIN

WASHINGTON (AP) — Dave Muffley thought he had it made when it came to a solid retirement. The Indiana man spent roughly 30 years as a salaried maintenance technician for Delphi Corp., a subsidiary of General Motors Corp., and expected to retire with a comfortable income by the time he hit 62.

But when GM plunged into the biggest industrial bankruptcy proceeding in history in 2009, and the federal government negotiated its restructuring, Muffley’s expected retirement package was slashed, and his life’s trajectory would spiral.

The Russiaville resident, now 68, lost 30% of his retirement savings, his promised health care coverage and his faith in government.

Muffley is one of an estimated 20,000 Delphi workers hurt by the GM bankruptcy, and many have spent the past 13 years fighting to get back what they lost. After taking the issue all the way to the U.S. Supreme Court, which declined to hear their case this year, the retirees were cut off from their last legal remedy.

FULL story at link above.



Dave Muffley poses outside one of the Delphi Corporation plants in Kokomo, Ind., Monday, July 11, 2022. As General Motors Corp. underwent the biggest industrial bankruptcy proceedings in history, and the federal government negotiated a company restructuring, Muffley's healthy retirement savings would be slashed by 70 percent, and his life's trajectory would take a dramatic spiral downward. (AP Photo/Michael Conroy)