Delphi Pensions Restoration Act of 2012
Latest action · Sep 13, 2012 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedSep 13, 2012
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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).
Cosponsors 2
Members who signed on, in the order they did. All signed on Sep 13, 2012.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Charles E. Schumer | Original | Sep 13, 2012 |
| D-MI | Debbie Stabenow | Original | Sep 13, 2012 |
Actions 2
Everything that happened, newest first.
- Sep 13, 2012Introduced in Senate
- Sep 13, 2012Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 6404 | Delphi Pensions Restoration Act of 2012 | Identical bill | Sep 13, 2012 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Sep 13, 2012Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.