Susan Muffley Act

The Susan Muffley Act requires the Pension Benefit Guaranty Corporation (PBGC) to recalculate monthly pension benefits for participants and beneficiaries of six specific Delphi pension plans (including the Delphi Hourly-Rate Employees Pension Plan) to the full vested amount, removing prior limits that previously reduced payments. It mandates lump-sum payments for past underpayments, including 6% interest, within 180 days of enactment, covering individuals currently receiving benefits or eligible for future payments under these plans. The law establishes a Treasury-funded trust to cover these increased payments and applies retroactively to past benefit calculations. This change directly affects Delphi plan participants who were underpaid due to previous benefit caps, without altering existing asset allocation rules.