,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #gce  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,febru>y #a1 #bjbc,mr4
 ,turn] 7= himself1 ,mr4 ,kildee1 ,ms4  
,t5ney1 & ,ms4 ,moore ( ,wiscons97      
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,education & !         
,work=ce1 & 9 addition to ! ,committee  
on ,ways & ,means1 = a p]iod to be      
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to increase !      
b5efits gu>ante$ 9 connection ) c]ta9   
p5sion plans1 & = o!r purposes4  #a4    
,%ort title ,?is ,act may be cit$ z !   
,susan ,muffley ,act ( #bjbc4  #b4      
,gu>ante$ b5efit calculation = c]ta9    
plans  7a7 ,9 g5]al  7#a7 ,increase to  
full ve/$ plan b5efit  7,a7 ,9 g5]al ,= 
purposes ( det]m9+ :at b5efits are      
gu>ante$ "u section #djbb ( ! ,employee 
,retirem5t ,income ,security ,act (     
#aigd 79 ?is section ref]r$ to z        
,,erisa7 ) respect to an eligible       

p>ticipant or b5efici>y "u a cov]$ plan 
specifi$ 9 p>agraph 7#d7 9 connection ) 
! t]m9ation ( su* plan1 ! am\nt ( mon?ly
 b5efits %all be equal to ! full ve/$   
plan b5efit ) respect to ! p>ticipant4  
7,b7 ,no effect on previ\s det]m9ations 
,no?+ 9 ?is ,act %all be con/ru$ to     
*ange ! allocation ( assets & recov]ies 
"u sections #djdd7;a7 & #djbb7;c7 (     
,,erisa z previ\sly det]m9$ by ! ,p5sion
 ,b5efit ,gu>anty ,corporation 79 !     
section ref]r$ to z ! corporation7 = !  
cov]$ plans specifi$ 9 p>agraph 7#d71 & 
! corporation's applicable rules1       
practices1 & policies on b5efits payable
 9 t]m9at$ s+le-employ] plans %all1     
except z o!rwise provid$ 9 ?is section1 
cont9ue to apply ) respect to su* cov]$ 
plans4  7#b7 ,recalculation ( c]ta9     
b5efits  7,a7 ,9 g5]al ,9 any case 9 :i*
 ! am\nt ( mon?ly b5efits ) respect to  
an eligible p>ticipant or b5efici>y     
describ$ 9 p>agraph 7#a7 0 calculat$    
prior to ! date ( enactm5t ( ?is ,act1 !
 corporation %all recalculate su* am\nt 

pursuant to p>agraph 7#a71 & %all adju/ 
any subsequ5t paym5ts ( su* mon?ly      
b5efits accord+ly1 z soon z practicable 
aft] su* date4  7,b7 ,lump-sum paym5ts (
 pa/-due b5efits ,n lat] ?an #ahj days  
aft] ! date ( enactm5t ( ?is ,act1 !    
corporation1 9 consultation ) !         
,secret>y ( ! ,treasury & ! ,secret>y ( 
,labor1 %all make a lump-sum paym5t to  
ea* eligible p>ticipant or b5efici>y ^: 
gu>ante$ b5efits are recalculat$ "u     
subp>agraph 7,a7 9 an am\nt equal to--  
7i7 9 ! case ( an eligible p>ticipant1 !
 excess (--  7,i7 ! total ( ! full ve/$ 
plan b5efits ( ! p>ticipant = all mon?s 
= :i* su* gu>ante$ b5efits 7 paid prior 
to su* recalculation1 ov]  7,,ii7 ! sum 
( any applicable paym5ts made to !      
eligible p>ticipant2 &  7ii7 9 ! case ( 
an eligible b5efici>y1 ! sum (-- 7,i7 ! 
am\nt t w\ld be det]m9$ "u clause 7i7 ) 
respect to ! p>ticipant ( :i* ! eligible
 b5efici>y is a b5efici>y if su*        
p>ticipant 7 /ill 9 pay /atus2 plus     
7,,ii7 ! excess (-- 7aa7 ! total ( !    

full ve/$ plan b5efits ( ! eligible     
b5efici>y = all mon?s = :i* su* gu>ante$
 b5efits 7 paid prior to su*            
recalculation1 ov]  7bb7 ! sum ( any    
applicable paym5ts made to ! eligible   
b5efici>y4  ,not)/&+ ! previ\s s5t5ce1 !
 corporation %all increase ea* lump-sum 
paym5t made "u ?is subp>agraph to acc\nt
 = =egone int]e/ 9 an am\nt det]m9$ by !
 corporation design$ to reflect a #f    
p]c5t annual int]e/ rate on ea* pa/-due 
am\nt attributable to ! und]paym5t (    
gu>ante$ b5efits = ea* mon? prior to su*
 recalculation4  7,c7 ,eligible         
p>ticipants & b5efici>ies  7i7 ,9 g5]al 
,= purposes ( ?is section1 an eligible  
p>ticipant or b5efici>y is a p>ticipant 
or b5efici>y :o--  7,i7 z ( ! date ( !  
enactm5t ( ?is ,act1 is 9 pay /atus "u a
 cov]$ plan or is eligible = future     
paym5ts "u su* plan2  7,,ii7 has receiv$
 or w receive applicable paym5ts 9      
connection ) su* plan 7)9 ! mean+ (     
clause 7ii77 t does n exce$ ! full ve/$ 
plan b5efits ( su* p>ticipant or        

b5efici>y2 &  7,,iii7 is n cov]$ by !   
#aiii agreem5ts betwe5 ,g5]al ,motors & 
v>i\s unions provid+ a top-up b5efit to 
c]ta9 h\rly employees :o 7 transf]r$ f !
 ,g5]al ,motors ,h\rly-,rate ,employees 
,p5sion ,plan to ! ,delphi ,h\rly-,rate 
,employees ,p5sion ,plan4  7ii7         
,applicable paym5ts ,= purposes ( ?is   
p>agraph1 applicable paym5ts to a       
p>ticipant or b5efici>y 9 connection ) a
 plan consi/ ( ! foll[+3  7,i7 ,paym5ts 
"u ! plan equal to ! normal b5efit      
gu>antee ( ! p>ticipant or b5efici>y4   
7,,ii7 ,paym5ts to ! p>ticipant or      
b5efici>y made pursuant to section      
#djbb7;c7 or o!rwise receiv$ f !        
corporation 9 connection ) ! t]m9ation (
 ! plan4  7#c7 ,def9itions ,= purposes (
 ?is subsection-- 7,a7 ,full ve/$ plan  
b5efit ,! t]m full ve/$ plan b5efit     
means ! am\nt ( mon?ly b5efits t w\ld be
 gu>ante$ "u section #djbb ( ,,erisa z (
 ! date ( plan t]m9ation ) respect to an
 eligible p>ticipant or b5efici>y if su*
 section 7 appli$ )\t reg>d to ! phase-9

 limit 9 subsection 7b77#a7 ( su* ,act &
 ! maximum gu>ante$ b5efit limitation 9 
subsection 7b77#c7 ( su* ,act 7includ+ !
 accru$-at-normal limitation74  7,b7    
,normal b5efit gu>antee ,! t]m normal   
b5efit gu>antee means ! am\nt ( mon?ly  
b5efits gu>ante$ "u su* section )       
respect to an eligible p>ticipant or    
b5efici>y )\t reg>d to ?is ,act4  7#d7  
,cov]$ plans ,! cov]$ plans specifi$ 9  
?is p>agraph are ! foll[+3  7,a7 ,!     
,delphi ,h\rly-,rate ,employees ,p5sion 
,plan4  7,b7 ,! ,delphi ,retirem5t      
,program = ,sal>i$ ,employees4  7,c7 ,! 
,,phi ,non-,b>ga9+ ,retirem5t ,plan4    
7,d7 ,! ,,asec ,manufactur+ ,retirem5t  
,program4  7,e7 ,! ,,phi ,b>ga9+        
,retirem5t ,plan4  7,f7 ,! ,delphi      
,me*atronic ,sy/ems ,retirem5t ,program4
  7#e7 ,treatm5t ( ,,pbgc det]m9ations  
,any det]m9ation made by ! corporation  
"u ?is section conc]n+ a recalculation (
 b5efits or lump-sum paym5t ( pa/-due   
b5efits %all be subject to adm9i/rative 
review by ! corporation4 ,any new       

det]m9ation made by ! corporation "u ?is
 section %all be gov]n$ by ! same       
adm9i/rative review process z any o!r   
b5efit det]m9ation by ! corporation4    
7b7 ,tru/ fund = paym5t ( increas$      
b5efits  7#a7 ,e/abli%m5t ,!re is       
e/abli%$ 9 ! ,treasury ( ! ,unit$ ,/ates
 a tru/ fund to be kn[n z ! ,delphi     
,full ,ve/$ ,plan ,b5efit ,tru/ ,fund   
7h]eaft] 9 ?is subsection ref]r$ to z ! 
,fund71 consi/+ ( su* am\nts z may be   
appropriat$ or cr$it$ to ! ,fund z      
provid$ 9 ?is section4  7#b7 ,fund+ ,!re
 is appropriat$ f ! g5]al fund su*      
am\nts z are necess>y = ! co/s ( !      
paym5t ( ! portion ( mon?ly b5efits     
gu>ante$ to a p>ticipant or b5efici>y   
pursuant to subsection 7a7 & = necess>y 
adm9i/rative & op]at+ exp5ses ( !       
corporation relat+ to su* paym5t4 ,!    
,fund %all be cr$it$ ) am\nts f "t to "t
 z ! ,secret>y ( ! ,treasury1 9         
conjunction ) ! ,director ( !           
corporation1 det]m9es appropriate1 f !  
g5]al fund ( ! ,treasury4  7#c7         

,exp5ditures f ,fund ,am\nts 9 ! ,fund  
%all be available = ! paym5t ( ! portion
 ( mon?ly b5efits gu>ante$ to a         
p>ticipant or b5efici>y pursuant to     
subsection 7a7 & = necess>y adm9i/rative
 & op]at+ exp5ses ( ! corporation relat+
 to su* paym5t4  7c7 ,regulations ,!    
corporation1 9 consultation ) !         
,secret>y ( ! ,treasury & ! ,secret>y ( 
,labor1 may issue su* regulations z     
necess>y to c>ry out ?is section4  7d7  
,tax treatm5t ( lump-,sum paym5ts  7#a7 
,9 g5]al ,unless ! taxpay] elects 7at   
su* "t & 9 su* mann] z ! ,secret>y may  
provide7 to h ?is p>agraph n apply )    
respect to any lump-sum paym5t "u       
subsection 7a77#b77;,b71 ! am\nt ( su*  
paym5t %all be includ$ 9 ! taxpay]'s    
gross income ratably ov] !              
#c-taxable-ye> p]iod beg9n+ ) ! taxable 
ye> 9 :i* su* paym5t is receiv$4  7#b7  
,special rules relat$ to dea?  7,a7 ,9  
g5]al ,if ! taxpay] dies be=e ! end ( ! 
#c-taxable-ye> p]iod describ$ 9 p>agraph
 7#a71 any am\nt to :i* p>agraph 7#a7   

applies :i* has n be5 includ$ 9 gross   
income = a taxable ye> end+ be=e !      
taxable ye> 9 :i* su* dea? occurs %all  
be includ$ 9 gross income = su* taxable 
ye>4  7,b7 ,special election = surviv+  
sp\ses ( eligible p>ticipants ,if--  7i7
 a taxpay] ) respect to :om p>agraph    
7#a7 applies dies1  7ii7 su* taxpay] is 
an eligible p>ticipant1  7iii7 ! surviv+
 sp\se ( su* eligible p>ticipant is     
entitl$ to a survivor b5efit f !        
corporation ) respect to su* eligible   
p>ticipant1 &  7iv7 su* surviv+ sp\se   
elects 7at su* "t & 9 su* mann] z !     
,secret>y may provide7 ! application (  
?is subp>agraph1  subp>agraph 7,a7 %all 
n apply & any am\nt :i* w\ld h 7b = su* 
taxpay]'s dea?7 be5 includ$ 9 ! gross   
income ( su* taxpay] "u p>agraph 7#a7 = 
any taxable ye> beg9n+ aft] ! date ( su*
 dea? %all be includ$ 9 ! gross income (
 su* surviv+ sp\se = ! taxable ye> ( su*
 surviv+ sp\se end+ ) or )9 su* taxable 
ye> ( ! taxpay]4