Gerdau Reaches $16M Deal With Retirees Over Health-Care Cuts

Gerdau Ameristeel US Inc. agreed to pay more than $16 million to steelworker retirees who were affected by the company’s 2013 decision to cut health-care benefits for them and their dependents (Comer v. Gerdau Ameristeel US, Inc., M.D. Fla., No. 8:14-cv-00607-SDM-EAJ, plaintiff’s memorandum in support of final approval of settlement 8/25/17).

The settlement would provide benefits to at least 456 retirees from the steel mill in Sand Springs, Okla., the retirees said Aug. 25 in a memorandum requesting final approval of the class settlement. The settlement was preliminarily approved June 15 by the U.S. District Court for the ...