I 
112TH CONGRESS 
2D SESSION 
H. R. 6404 
To make available funds from the Emergency Economic Stabilization Act 
of 2008 for funding pension benefits with respect to former employees 
of Delphi Corporation. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 13, 2012 
Mr. RYAN of Ohio (for himself, Ms. SUTTON, and Mr. ANDREWS) introduced 
the following bill; which was referred to the Committee on Financial Serv-
ices, and in addition to the Committee on Education and the Workforce, 
for a period to be subsequently determined by the Speaker, in each case 
for consideration of such provisions as fall within the jurisdiction of the 
committee concerned 
A BILL 
To make available funds from the Emergency Economic Sta-
bilization Act of 2008 for funding pension benefits with 
respect to former employees of Delphi Corporation. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Delphi Pensions Res-
toration Act of 2012’’. 
VerDate Mar 15 2010 
01:10 Sep 18, 2012
Jkt 019200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H6404.IH
H6404
smartinez on DSK5TPTVN1PROD with BILLS
SEC. 2. SALE OF TROUBLED ASSETS TO FUND CERTAIN 
PENSION BENEFITS. 
(a) IN GENERAL.—Subsection (d) of section 106 of 
the Emergency Economic Stabilization Act of 2008 (12 
U.S.C. 5216) is amended to read as follows: 
‘‘(d) DISPOSITION OF REVENUES.— 
‘‘(1) TRANSFER TO TREASURY.—Except as pro-
vided in paragraph (2), revenues of, and proceeds 
from the sale of troubled assets purchased under 
this Act, or from the sale, exercise, or surrender of 
warrants or senior debt instruments acquired under 
section 113 shall be paid into the general fund of 
the Treasury for reduction of the public debt. 
‘‘(2) FUNDING
OF
CERTAIN
PENSION
BENE-
FITS.—Proceeds from the sale or transfer, after the 
date of the enactment of the Delphi Pensions Res-
toration Act of 2012, of any stock, warrant, or fi-
nancial instrument acquired by the Secretary in con-
nection with providing financial assistance to the 
General Motors Corporation under this Act shall be 
transferred to the Delphi Retired Employees Fund 
established under section 3 of such Act.’’. 
SEC. 3. DELPHI RETIRED EMPLOYEES FUND. 
(a) ESTABLISHMENT
OF FUND.—There is estab-
lished on the books of the Treasury of the United States 
a Delphi Retired Employees Fund (hereinafter in this sec-
VerDate Mar 15 2010 
01:10 Sep 18, 2012
Jkt 019200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H6404.IH
H6404
smartinez on DSK5TPTVN1PROD with BILLS
tion referred to as the ‘‘Fund’’) to be used by the Sec-
retary of the Treasury in making the payments required 
under subsection (b). 
(b) PAYMENTS FROM THE FUND.—The Fund shall 
be available— 
(1) for paying to each eligible separated em-
ployee (on a lump sum basis, if appropriate) an 
amount equal to— 
(A) the nonforfeitable benefits to which 
such employee was entitled under a defined 
benefit plan described in subsection (d) as in ef-
fect immediately before the termination of the 
plan, but which are not payable to such em-
ployee by reason of the termination of the plan; 
reduced by 
(B) the amounts paid to such employee by 
the Pension Benefit Guaranty Corporation 
under section 4022(a) of the Employee Retire-
ment Security Act of 1974 (29 U.S.C. 
1322(a)); and 
(2) for paying the operational and administra-
tive expenses in connection with the operation of the 
Fund, including reimbursement of expenses incurred 
by the Pension Benefit Guaranty Corporation in 
VerDate Mar 15 2010 
01:10 Sep 18, 2012
Jkt 019200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H6404.IH
H6404
smartinez on DSK5TPTVN1PROD with BILLS
connection with the information sharing require-
ments of subsection (e). 
(c) ELIGIBLE SEPARATED EMPLOYEE.—For pur-
poses of this section, the term ‘‘eligible separated em-
ployee’’ means any individual— 
(1) who is separated from employment with 
Delphi Corporation before the date of the enactment 
of this Act; 
(2) who was a participant in a defined benefit 
plan described in subsection (d); and 
(3) who is not covered by any agreement be-
tween the General Motors Corporation and partici-
pants in such a defined benefit plan under which the 
General Motors Corporation provides to the partici-
pants that are covered by the agreement a payment 
of nonforfeitable benefits in an amount equal to the 
amount that such participants would have been enti-
tled to receive under the plan but for the termi-
nation of such plan. 
(d) DEFINED BENEFIT PLANS DESCRIBED.—A de-
fined benefit plan described in this subsection is a defined 
benefit plan— 
(1) that was terminated before the date of the 
enactment of this Act pursuant to a proceeding 
under title 11, United States Code; 
VerDate Mar 15 2010 
01:10 Sep 18, 2012
Jkt 019200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H6404.IH
H6404
smartinez on DSK5TPTVN1PROD with BILLS