UAW Gets Court OK to Fund Benefits With $346M VEBA

The United Auto Workers will be paying $346 million to a voluntary employees’ beneficiary association to fund retiree benefits for its staff employees under a settlement approved by the U.S. District Court for the Eastern District of Michigan (Office and Professional Employees Local 494 v. Auto Workers, E.D. Mich., 2:14-cv-14868-DPH-EAS, 11/6/15).

The UAW is often involved in retiree benefit litigation on behalf of its members whose benefits have been reduced or eliminated by their employers. The shoe was on the other foot in this case, with the UAW facing legal challenges over its decision to make changes ...