All six plans have been assumed by the PBGC.Although many current pension recipients will eventually see a change in their pension payment, it could take the PBGC several months before determining an estimated pension benefit for Delphi pension recipients. The real world changes every day, yet proponents of Target-Date funds expect someone to stick to a single game plan for as much as 40 years, whether interest rates are rising or falling, or whether the economy is in expansion or recession. Any overpayments or shortfalls created by the estimated payments recipients received over this timeframe will be made up by adjusting the final payment to be received from the PBGC.Delphi has made changes to the retirement plans that have increased the importance of the 401(k) plan and individual savings for an employee’s retirement. Changes included a new core investment line up and the introduction of a brokerage account option for participants. After reaching the pre-tax threshold employees may still contribute to the SRSP. Operations. These revisions represent the first step in a series of changes planned by Delphi for the SRSP and PSP. Mainstay Capital Management can help you avoid missing out on valuable employer contributions by showing you how much you can safely contribute.The Target Retirement Date funds (Pathway One) are designed for those participants who wish to base their asset allocation decision on a specific target date, typically aligning the account with the fund that most closely matches their projected retirement date.Eleven of these funds are included in the new plan, with 5-year incremental targets from 2010 to 2055. These parameters may prove to be shortsighted and inappropriate for everyone participating in the pool. The total IRS limit for contributions to the SRSP, which include pre-tax and after-tax payroll contributions, Delphi company match, and retirement contributions is $51,000 (or $56,500 if age 50 or older) for 2013.If you have questions on how the election of the AIP payout to the SRSP could impact your contributions for the remainder of 2013, or you want to maximize Delphi’s company match, contact Mainstay Capital Management toll-free at 1-866-444-6246 to speak with one of our Certified Financial PlannersThe Delphi Salaried Retirement Savings Plan (SRSP) and Personal Savings Plan (PSP) underwent a significant overhaul effective March 30, 2012. The company spun off its powertrain division and aftermarket related businesses (now Delphi Technologies) in December 2017 and changed its name to Aptiv PLC. NOTE: Aptiv and Delphi Technologies are separate companies and their 10949001 specification and requirements are therefore distinct. After reaching the pre-tax threshold employees may still contribute to the SRSP. More recently, the company announced that the Powertrain Systems segment will be named “Delphi Technologies” and the remaining portion will be named “Aptiv”.Those transferring to Delphi Technologies have been notified of the transition to a new 401(k) plan - “Delphi Powertrain Technologies Salaried Retirement Savings Program (SRSP)” – which offers a new set of investment options as compared to the current Delphi SRSP. The … It will be replaced with the PIMCO Interest Income Fund. Target-Date funds attempt to make decisions about asset allocation based solely on a target date. Reference our Delphi has announced upcoming changes to the investment options in the Salaried Retirement Savings Program (SRSP) and Personal Savings Plan (PSP). During the time that the PBGC is working to determine the estimated pension payment, recipients will continue to receive the same pension payment they had been receiving prior to the PBGC takeover. Additionally, they leave no room for the fund manager to tactically adjust the strategy based on specific opportunities within the financial markets or in response to prevailing market conditions.The returns realized in these commingled vehicles are diluted by a rigid adherence to mechanical allocation parameters. Target-Date funds attempt to make decisions about asset allocation based solely on a target date. This brokerage account option makes thousands of investment options available to participants.If you have questions about the plan overhaul, the new core options, or whether you should utilize the brokerage account option, contact Mainstay Capital Management toll-free at 1-866-444-6246.Delphi has announced that the Promark Income Fund will be removed from the SRSP and PSP investment menu. CMC Engine Management System. During the time that the PBGC is working to determine the estimated pension payment, recipients will continue to receive the same pension payment they had been receiving prior to the PBGC takeover. All six plans have been assumed by the PBGC.Although many current pension recipients will eventually see a change in their pension payment, it could take the PBGC several months before determining an estimated pension benefit for Delphi pension recipients.
State Street Bank and Trust, currently the plan’s trustee, will be replaced with Fidelity Management Trust Company. This Company Match will be over and above the 4.0% automatic contribution that you are currently receiving into your SRSP.While your personal retirement plan may already call for a contribution level higher than 7.0%, all participants should contribute a minimum of 7.0% to the SRSP to maximize the company contribution to their account.August 10, 2009 the Pension Benefit Guaranty Corporation (PBGC) assumed responsibility for the pension plans of 70,000 workers and retirees of Delphi Corporation. This Company Match will be over and above the 4.0% automatic contribution that you are currently receiving into your SRSP.While your personal retirement plan may already call for a contribution level higher than 7.0%, all participants should contribute a minimum of 7.0% to the SRSP to maximize the company contribution to their account.August 10, 2009 the Pension Benefit Guaranty Corporation (PBGC) assumed responsibility for the pension plans of 70,000 workers and retirees of Delphi Corporation.