A pair of Ohio lawmakers have launched a taskforce to investigate the Pension Benefit Guaranty Corporation’s (PBGC) decision to slash a non-union pension fund as part of the auto bailout.
Republican vice presidential nominee Paul Ryan slammed President Barack Obama for the Auto Task Force’s treatment of nonunion workers who saw their pensions slashed by 70 percent, while their union coworkers lost no funds thanks to a $1 billion “top-off” by GM, during a rally in Sabina, Ohio, on Saturday.
Republicans are stepping up the pressure on the Obama administration to explain why a federal pension insurer slashed the pensions of non-union employees as part of the General Motors (GM) bailout, while union benefits were preserved.
When Delphi went broke, UAW workers retained pensions while non-union ‘management’ did not.
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