In August 2009, PBGC assumed responsibility for Delphi Corporation's six pension plans. Click on the links below to see the plan's status, frequently asked questions, videos and related information.
I am eligible for an early-retirement benefit from a Delphi pension plan, and am still working for a successor firm. Now that PBGC has ended the restriction on working retirement, can I start my pension benefit?
Yes. All Delphi participants can start their benefit as soon as they’re eligible and continue to work.
In fact, the working retirement restriction applied only to Delphi participants who work for certain companies. Affected by the rule change are:
Delphi hourly plan participants who work for Inteva Products, LLC; Kyklos, Inc.; Tenneco Automotive Operating Co., Inc.; TRW Integrated Chassis Systems, LLC.
Delphi salaried plan participants who work for American Axle & Manufacturing Inc.; Chassis Components Inc.; Delco Remy America Inc.; Guide Corporation; Inteva Products Solution; ITT Automotive Electrical Systems Inc. /Valeo; Lear Seating; Magnequench International; Peregrine U.S.
If you work for one of these companies and you satisfy the eligibility requirements for early retirement, you can now start your PBGC benefit and keep working. If you were working on June 1, 2021, PBGC will allow you to start your benefit as of that date and pay you for missed payments since that date. There’s no rush, however: you can choose the June 1, 2021, starting date and get a back payment even if you apply months or years from now.
- Current Delphi Salaried Participant Report
- Delphi Plans Documents and Processing Reports
- PBGC Ends Working Retirement Restriction on Starting Early Retirement Benefits: FAQs
Last updated: February 9, 2016
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