DAYTON (AP) - Attorneys for a federally backed pensions corporation have declined to enter mediation with retirees of a former auto-parts supplier suing to have their full pensions restored.
The Dayton Daily News reports that the Pension Benefit Guaranty Corp. rejected the suggestion of non-binding mediation with Delphi salaried retirees.
Chuck Cunningham, legal liaison for the Delphi Salaried Retirees Association, said it came after six weeks of discussions.
The retirees have been struggling for three years to get their full pensions from the former major automotive parts supplier.
In July 2009, a then-bankrupt Delphi surrendered its pension obligations to Pension Benefit Guaranty Corp. That resulted in pension payments that were 30 to 70 percent lower than the retirees expected.
About 1,200 local retirees were affected by the pension dump.