History of the Trust
History
The Trust was established as a result of the 2007 collective bargaining agreements between the UAW and the three auto companies. Under the agreements, retiree health care liabilities were transferred to a new independent Voluntary Employee Beneficiary Association (VEBA), which is composed of three separate Plans (GM, Ford and Chrysler). The federal courts approved this agreement in three class action settlements (download a copy of each settlement agreement below). After the settlements, a Trust agreement was signed to create the UAW Retiree Medical Benefits Trust (the "Trust").
When the Trust launched in January 2010, it became the largest non-governmental purchaser of retiree health care in the United States, covering over 860,000 members. Since then, the Trust has focused on retiree health care and making benefit changes to ensure the continuation of the funds.
Checks & Balances
The Trust is governed by an 11-member board of trustees (the Committee). Five of the committee members are appointed by the UAW; the other six are independent of the UAW and were originally approved by the federal district court as part of the class action settlements.
On a day-to-day basis, the Trust is run by a staff of dedicated professionals. Find out more about current committee members and senior leadership staff on the Leadership page.
Interested in learning more?
Watch the short videos below to learn more about how the Trust began, how it functions to protect your benefits and more.
