Date set for consideration of GM retiree health care trust

[Omaha Steve]

http://www.laborradio.org/node/7983

Lede: A June 3rd hearing has been set in federal court to consider final approval of the retiree health care trust fund negotiated by the UAW at General Motors. Doug Cunningham reports.

By Doug Cunningham

The United Auto Workers has taken federal legal action needed to implement the VEBA health care trust for GM UAW retirees. The UAW says the trust fund will be managed by independent trustees with expertise in health care and investments. If approved by the U.S. District Court in eastern Michigan the proposed settlement filed by the UAW and retirees will establish the health trust fund to pay for health care benefits for current and future UAW GM retirees.
UAW President Ron Gettlelfinger has reiterated his previous comment that the UAW is confident this VEBA trust fund will have enough money to pay for retiree health care for 80 years. Any modifications to union retiree benefits can’t be finalized at the bargaining table. Court approval is needed. Eleven trustees will manage the VEBA – five appointed by the UAW and six public trustees. GM will keep paying for retiree health benefits until January 1st, 2010, when the VEBA takes over.

[RUMMYisFROSTED]

1. 2088?

Call me cynical....