KETTERING — President Trump announced Thursday that his administration is looking to restore the pensions of thousands of workers.
After the company went bankrupt in 2009 and shut down, the pensions of union workers were protected but salaried employees lost as much as 70 percent of their pension.
“It’s created a massive financial hardship you’ve worked your whole life think you have your retirement set up, and then you get your pension virtually taken away from you," explained former employee Tom Rose. "And so it’s created bankruptcies, foreclosures, lots of financial hardships.”
President Trump issued a memorandum Thursday directing his cabinet to study the issue and report back in 90 days with a solution.
Just signed an order to support the workers of Delphi Corporation and make sure that we protect the pensions of all American workers! Obama-Biden FAILED American workers and FAILED the workers of Delphi. I ALWAYS put American workers FIRST!
— Donald J. Trump (@realDonaldTrump) October 22, 2020
Dayton area congressman Mike Turner says this has been a long time coming for retired workers, especially after the workers lost their legal battle last year.
“It’s going to mean a tremendous amount help to resolve a lot of debt a lot of families have incurred," said Rose. "The tragic part is they’re going to get some money -back pay on their pension but they’re not going to have it when they need -it to help their kids through college.”
Cox Media Group
