Susan Muffley Act of 2025
Sponsored By: Senator Jon Husted
Introduced
Summary
Guarantee full vested pension benefits to eligible participants of six specified Delphi and PHI plans. It would require the Pension Benefit Guaranty Corporation (PBGC) to recalculate past payments, make lump-sum catch-ups with 6 percent annual interest, and create a Treasury trust fund to cover the higher guarantees.
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- Participants and beneficiaries: Eligible retirees and survivors would have their PBGC-guaranteed monthly benefit reset to the full vested plan benefit and get recalculated lump-sum payments within 180 days for past underpayments. Lump sums would include a 6 percent annual interest adjustment on past-due amounts.
- PBGC operations: The PBGC would be required to recalculate previously determined benefits, adjust future payments to the full vested standard, and apply its normal administrative review process. The agency may issue implementing regulations in coordination with the Treasury and Labor Secretaries.
- Funding and limits: The bill would create the "Delphi Full Vested Plan Benefit Trust Fund" in the Treasury funded by appropriations and amounts credited by the Secretary of the Treasury. Money from the fund would be limited to paying the guaranteed portions of monthly benefits and related PBGC administrative costs.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Full vested pensions for Delphi retirees
If enacted, PBGC would guarantee monthly pensions equal to the full vested plan benefit for eligible people in six named Delphi plans. To qualify, you would need to be in pay status on enactment or eligible for future payments, and your prior applicable payments must not already exceed your full vested benefit. People covered by the 1999 GM-Delphi top-up agreements would be excluded. PBGC would recalculate any pre-enactment benefit amounts and raise ongoing payments if needed. PBGC would pay lump sums within 180 days for past underpayments, and each lump sum would include 6 percent annual interest on past-due amounts.
Trust fund and PBGC rules for Delphi plans
If enacted, the government would create the "Delphi Full Vested Plan Benefit Trust Fund" in the Treasury to pay the guaranteed parts of monthly pensions and related PBGC administrative costs. The bill would allow the Treasury to credit amounts and would authorize appropriations from Treasury as needed. The Act would also preserve prior PBGC asset-allocation and recovery rules for the covered plans and let PBGC issue implementing regulations with Treasury and Labor.
Sponsors & CoSponsors
Sponsor
Jon Husted
OH • R
Cosponsors
Kirsten Gillibrand
NY • D
Sponsored 6/4/2025
Bernie Moreno
OH • R
Sponsored 6/4/2025
Gary Peters
MI • D
Sponsored 6/4/2025
John Fetterman
PA • D
Sponsored 6/4/2025
Tammy Baldwin
WI • D
Sponsored 6/4/2025
Roger Wicker
MS • R
Sponsored 6/4/2025
Elissa Slotkin
MI • D
Sponsored 6/12/2025
Todd Young
IN • R
Sponsored 7/9/2025
Cindy Hyde-Smith
MS • R
Sponsored 7/23/2025
Charles Schumer
NY • D
Sponsored 7/30/2025
Mark Kelly
AZ • D
Sponsored 7/30/2025
Roll Call Votes
No roll call votes available for this bill.
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