People changes for September 28, 2015 pilotonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pilotonline.com Daily Mail and Mail on Sunday newspapers.
Special to the Salem News
Delphi salaried retirees are down to their last legal shot in their more than 11-year battle to restore pensions lost when the auto parts maker went bankrupt.
But will they take it?
“Our only legal option is to ask for cert (certiorari) at the (U.S.) supreme court so that we could get the supreme court to hear our case … We still have until the end of July I believe, around the end of July, to do that, so we’re working on what we are going to do right now,” said Chuck Cunningham, legal liaison for the Delphi Salaried Retirees Association.
But will they take it?
“Our only legal option is to ask for cert (certiorari) at the (U.S.) Supreme Court so that we could get the Supreme Court to hear our case … We still have until the end of July, I believe, around the end of July to do that. So we’re working on what we are going to do right now,” Chuck Cunningham, legal liaison for the Delphi Salaried Retirees Association, said.
In common parlance, certiorari is the way for parties unsatisfied with a lower court’s decision to petition the high court to consider a case.
Forces Come Together to Make PRTs More Attractive
Increased funded status for DB plans and rising interest rates make now a good time for plan sponsors to consider implementing pension risk transfer transactions.
Reported by
The effects of the COVID-19 pandemic slowed pension risk transfer (PRT) activity early last year, but the market made up ground in the fourth quarter.
Michael Clark, managing director and consulting actuary with River and Mercantile, says the two most common PRT transactions are annuity purchases, which tend to be more focused on in-pay retirees, and lump sum windows, which, in general, focus on terminated, vested participants.
rselak@tribtoday.com
Delphi salaried retirees are down to their last legal shot in their more than 11-year battle to restore pensions lost when the auto parts maker went bankrupt.
But will they take it?
“Our only legal option is to ask for cert (certiorari) at the (U.S.) Supreme Court so that we could get the Supreme Court to hear our case … We still have until the end of July, I believe, around the end of July to do that. So we’re working on what we are going to do right now,” Chuck Cunningham, legal liaison for the Delphi Salaried Retirees Association, said.