Deal With GM Will Help Fund Delphi Pensions

Law360, New York (May 12, 2008, 12:00 AM EDT) -- Delphi Corp. will continue to fund its employee pension plans by obtaining cash contributions from its global affiliates and by transferring some of its unfunded pension liabilities to General Motors Corp., its former parent, the bankrupt auto parts supplier said Friday.

The company said that it can fund the plans without funding waivers from the Internal Revenue Service and Pension Benefit Guaranty Corporation, which it has obtained in the past.

"We appreciate the constructive support of the IRS and PBGC that we have received throughout our...
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