WeVote
Log In

Bill

TB

Bill

HR 1895

Delphi Retirees Pension Restoration Act

119th Congress Introduced by Tom Barrett and 16 co-sponsors

HR 1895 restores full pension benefits to Delphi retirees affected by bankruptcy, ensuring financial security for those relying on promised retirement income.

Introduced in House
0
WeVote Research Nonpartisan
Bill Summary · HR 1895

Summary of HR 1895 - Delphi Retirees Pension Restoration Act

Overview

The Delphi Retirees Pension Restoration Act (HR 1895) was introduced in the House of Representatives on March 6, 2025. This bill aims to address the pension benefits of retirees from Delphi Corporation, a company that underwent bankruptcy and restructuring, which significantly impacted the retirement plans of its employees.

Purpose and Intent

The primary purpose of HR 1895 is to restore pension benefits to Delphi retirees who have faced reductions in their retirement income due to the company's bankruptcy proceedings. The bill seeks to ensure that these retirees receive the full pension benefits they were promised, thereby providing financial security to individuals who have already contributed to the company and relied on these benefits for their retirement.

Key Provisions

While the specific text of the bill is not provided, the following key provisions are anticipated based on the bill's intent:

  • Restoration of Pension Benefits: The bill would mandate the restoration of pension benefits to Delphi retirees, ensuring that they receive the full amount owed to them prior to the company's bankruptcy.
  • Funding Mechanisms: The legislation may outline specific funding sources or mechanisms to finance the restoration of these pension benefits, potentially involving federal support or adjustments to existing pension funding structures.
  • Eligibility Criteria: The bill will likely define who qualifies as a Delphi retiree eligible for the restored benefits, ensuring clarity on the scope of individuals affected.

Affected Parties

The primary beneficiaries of HR 1895 will be the Delphi retirees who have experienced reductions in their pension benefits. This includes former employees who relied on these pensions for their retirement income. Additionally, the bill may impact the broader community of retirees from companies that have undergone similar financial hardships.

Legislative Process

  • Introduced: March 6, 2025
  • Referred to Committees: The bill has been referred to the Committee on Education and Workforce and the Committee on Ways and Means for consideration. The Speaker of the House will determine the timeline for further proceedings.
  • Cosponsors: The bill has garnered support from a diverse group of cosponsors, including both Democrats and Republicans, indicating a bipartisan interest in addressing the concerns of Delphi retirees.

Related Legislation

HR 1895 is related to HR 1357, which serves as a companion bill. This connection may suggest parallel efforts to address similar issues regarding pension restoration for affected retirees.

Conclusion

HR 1895 represents a significant legislative effort to restore the pension benefits of Delphi retirees, aiming to rectify the financial challenges faced by these individuals due to corporate bankruptcy. As the bill progresses through the legislative process, it will be essential to monitor its developments and the discussions surrounding its provisions and funding mechanisms.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.