Retirees Lose Benefits

[dollardaze]

More than 1600 letters were sent by retirees of Delphi to U.S. Bankruptcy Judge Robert Drain, begging him to deny Delphi the right to cut off their benefits.

The letters were to no avail as the judge is allowing the auto supplier to cut off the health care and insurance benefits for its retired salaried workers with the provision that the retirees can form a committee to investigate if they have a right to negotiate with the company. 15,000 retirees are affected by the judge's motion.

Benefits for the retirees will be cut off as of April 1, with the retirees' committee presenting its finding at a hearing on March 11.

Delphi Corp. which is based out of Troy, Michigan has been operating under Chapter 11 bankruptcy protection since 2005 and says that these benefits must be cut off as a part of its restructuring.

[ClassyLady]

That is terrible. Who gives them the right to do that? They earned that and deserve to get it. This country is getting worse and worse. I hate to see if things don;t change what my grandkids will be up against.

[moneysaver]

That is sickening to hear. Those people worked for their benefits. What are they suppose to do now? How in the world can they do that? I really don’t understand. They deserve all of the benefits of retiring. Makes me sick to hear that.

[dollardaze]

I agree with you both. The American Dream of owning a home, and working a job for 30 years to be able to retire without worrying about money is no longer an option.

It seems that after we do retire, we'd better just get another job to pay for our own health care!! This, after we've already worked all our lives to be able to finally relax.

My heart goes out to these people and their families......what happens if these people really get sick? This disgusts me and these companies should have to stick to their end of the bargain and pay for the retirees' benefits.