Innovative Trust Fund Makes Payment to 40,000 USW Retirees and Spouses

[Omaha Steve]

http://www.uswa.org/uswa/program/content/3507.php

Innovative Trust Fund Makes Payment to 40,000 USW Retirees and Spouses

For Immediate Release October 31, 2006

(Pittsburgh, PA) More than 40,000 United Steelworker retirees and spouses who lost health care coverage in the bankruptcies of four steel companies are getting financial help with their Medicare Part B premiums from an innovative trust fund bargained by the USW to assist them.

Checks will be mailed during the first week of December to 40,476 USW-represented retirees and spouses of Bethlehem Steel, LTV, Acme Metals and Georgetown Steel, said Thomas Duzak, director of pension and benefits for the USW.

The checks will reimburse eligible individuals for up to six months of Medicare Part B premiums paid during the first half of 2006. A single retiree will receive $531 and couples $1,062. Premiums were typically $88.50 a month for Medicare beneficiaries.

“This benefit payout reflects our continuing commitment to represent the interests of retirees who were abandoned by their former employers and betrayed by the bankruptcy courts,” USW President Leo W. Gerard said.

FULL story at link above.

[ThomCat]

1. We all need stronger unions!

We all need to support the unions whenever we can! :applause:

[Lars39]

2. Wonderful news!

:kick: