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Delphi Retirees Denied Second Look in Pension Takeover Challenge

Feb. 26, 2021, 4:02 PM

Delphi Corp. retirees failed to convince the Sixth Circuit to rethink its recent decision upholding the 2009 government takeover of their pension plans.

The retirees said the court wrongly concluded that they didn’t have a property interest in the full amount of their vested pension benefits.

The court on Thursday denied the retirees’ petition for rehearing, which sought to undo a September 2020 decision rejecting allegations that the federal Pension Benefit Guaranty Corp. arbitrarily terminated their pension plan in violation of their due process rights.

In rejecting their due process claims, the U.S. Court of Appeals for the Sixth Circuit ...