Emails The Daily Caller obtained and first published on Tuesday show senior White House and Treasury officials were behind the termination of pensions for 20,000 non-union Delphi salaried retirees.
Those emails show that the Treasury Department, led by Geithner, was the driving force behind terminating those pensions, a move made in 2009 while the Obama administration implemented its auto bailout plan. The emails contradict sworn testimony in which several Obama administration figures have consistently claimed that the decision to terminate the pensions came from the Pension Benefit Guaranty Corporation (PBGC). The PBGC is a federal government agency that handles private-sector pension benefits issues. Its charter calls for independent representation of pension beneficiaries’ interests.
“[T]he termination of the Delphi salaried pension plan was made by the PBGC in accordance with its standard procedures and applicable laws — not by Treasury,” Treasury spokesman Matt Anderson said in an email to TheDC. “Although the Delphi bankruptcy was very difficult for its employees and retirees, the actions Treasury took to support the American auto industry helped save more than a million American jobs during a period of economic crisis.”