ASARCO Wants Defendant Class in Battle Over Retiree Benefit Cuts

ASARCO LLC made a highly unusual move May 7, when it asked a federal judge to certify a defendant class of retirees and beneficiaries in a case over the company’s plans to terminate retiree health coverage.

ASARCO, the third largest copper producer in the world, is seeking court approval to move Medicare-eligible retirees and their dependents from company-paid medical and prescription drug coverage to health reimbursement arrangements funded in part by contributions from ASARCO.

The company followed its October 2018 lawsuit against the retirees’ unions with a motion to certify a defendant class covering about 740 retirees and dependents.

Defendant ...