Susan Muffley Act of 2023

HR 735 (Susan Muffley Act of 2023) requires the Pension Benefit Guaranty Corporation (PBGC) to recalculate and increase monthly pension benefits for participants and beneficiaries in six specific Delphi-related pension plans to their full vested amount. This includes making lump-sum payments for past underpayments, plus 6% annual interest on amounts owed since prior benefit calculations. The bill directly affects eligible retirees and beneficiaries in the Delphi Hourly-Rate Employees Pension Plan, Delphi Retirement Program for Salaried Employees, and four other Delphi pension plans. It does not change existing asset allocations but ensures payments reflect the full pension amount guaranteed under ERISA without prior phase-in limits.