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Fatima Hussein/Associated Press

  • Dave Muffley poses outside one of the Delphi Corporation plants in Kokomo, Ind., Monday, July 11, 2022. As General Motors Corp. underwent the biggest industrial bankruptcy proceedings in history, and the federal government negotiated a company restructuring, Muffley's healthy retirement savings would be slashed by 70 percent, and his life's trajectory would take a dramatic spiral downward. (AP Photo/Michael Conroy)
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    Rejected by courts, retirees take last shot to save pensions
    Fatima Hussein/Associated Press
    When General Motors went through the biggest industrial bankruptcy proceedings in history, 20,000 retirees from GM's Delphi Corp. subsidiary saw their retirement savings slashed. They fought unsuccessfully in court for 13 years to get that money back. Now, they're focused on congressional legislation to restore what they lost. Lawmakers from the left and right support the bill, which passed the House on Wednesday. But there's also some resistance to spending tax dollars to bail out pension funds. Supporters are hopeful for swift Senate action. And President Joe Biden's White House has expressed support for the measure.