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Camp Demands Delphi Pension Documents from Treasury and White House

October 04, 2012

Washington, DC – Today, Ways and Means Committee Chairman Dave Camp (R-MI) called on the White House and the Department of Treasury to turn over all records associated with the decision to top off pensions for Delphi’s union beneficiaries while terminating its non-union pensions without additional funding.  Camp made the request after the White House and Treasury were caught withholding documents from Congress.  In giving until October 12 to turn over all materials, Camp reminded the Administration that the President had once promised to run the most “transparent and open” Administration ever.

Chairman Camp stated, “The Administration claims that they have been a champion for the U.S. auto worker.  However, the 20,000 Delphi employees who had their pensions slashed do not share that same sentiment.  It is time the White House publicly disclose their exact role in picking winners and losers during the auto bailout.”

On August 13, 2012, Chairman Camp requested information from the White House, Pension Benefit Guarantee Corporation (PBGC), and Treasury to determine whether political concerns influenced the decision-making that resulted in disparate treatment of union and non-union pensions for Delphi beneficiaries.  While PBGC was forthcoming with its records, Treasury’s response was incomplete, and the White House produced no documents at all.

Emails the Committee received suggest that top officials at Treasury were heavily involved in the decision to terminate the Delphi pensions through the convening of meetings, providing comments on draft settlement agreements, and conferring with General Motors and Delphi officials apart from PBGC.

The letter to Treasury can be read here.

The letter to the White House can be read here.