Decker Posted August 27, 2022 Share Posted August 27, 2022 Ok when the tables are set with all the popcorn, chip`s, cookies and bottled water free for the taking at the entrance of the plant, most just grab and go... There was this kind of set up at CAP this week. A small booklet was there for the taking "UAW - FORD JOINT TRUSTS". Reginal UAW Rep`s said their howdy`s and how are you`s but little in the way of what the exchange was other than it is in the last contract. In the booklet it lists 14 committee`s in the Trusts Governance with two main headings as LMC and VEBA Trusts. VEBA Trust Fund? This Trust Fund is listed as covering Tuition Assistance Program, ESSP, Joint Apprenticeship & Training and the Voluntary Employees` Beneficiary Association. After the last few less than favorable contracts and the facts now in place these contracts were negotiated by current inmates, I`ve lost a lot of interest in keeping up with the fine print. So it was news to me that the retiree`s health care insurance VEBA (handed off to the IUAW with a big bucket of cash and stock) is such a large umbrella for all these different trust`s. Are all the programs being funded by VEBA in general? Could that be why the co-pays for meds and office visits go up for retirees`? August of 2022 what a coincidence, when do the fine cigars and high back chairs get rolled out in Dearborn for the gathering of those with our best interests in mine? Quote Link to comment Share on other sites More sharing options...
PFA Posted September 2, 2022 Share Posted September 2, 2022 I'm being told that the VEBA has a ton of money in it, and continues to grow as "legacy" pass on. They are trying to determine how to deal with the excess. Next gen employees is likely the end result, as they retire, they will need insurance. Contract talks... Quote Link to comment Share on other sites More sharing options...
JoeSchmoo Posted September 26, 2022 Share Posted September 26, 2022 The VEBA is for retiree & spouse health care. It's administered by a trust of IUAW, Ford and independent Trustees. The VEBA is not subject to collective bargaining. Yes, it has a lot of money in it. Over time and the morbid truth of retirees and spouses passing on, leave room for more to come in to it. Its up to the VEBA Trustees to bring more people in to it, not the IUAW or Ford. EESP, Joint Apprenticeship, Tuition Assistance and a lot of other programs are subject to collective bargaining since these are programs for active workers. Any increase in pension payments or bonuses ARE NOT SUBJECT COLLECTIVE BARGAINING. In the past, any pension increases or bonuses, were hand shake deals and Ford would agree to pay the increase or bonus difference. Since 2008, they have washed their hands of retirees and formally said they won't contribute to retirees again. The pension fund is another fund that its administered by a trust, similarly structured like the VEBA. Joe Schmoo Quote Link to comment Share on other sites More sharing options...
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