Navigation Links
U.S. Court Approves AK Steel's VEBA Health Care Settlement With Middletown Works Retirees
Date:2/21/2008

WEST CHESTER, Ohio, Feb. 21 /PRNewswire-FirstCall/ -- AK Steel (NYSE: AKS) said today that the United States District Court in Cincinnati has approved an agreement between AK Steel and a group of retirees from its Middletown (OH) Works to settle a lawsuit stemming from the company's initiatives in 2006 to reduce its health care costs in order to improve its competitiveness.

The settlement agreement, which established a Voluntary Employees Beneficiary Association (VEBA) trust, was reached on October 8, 2007, and was subject to approval by the court. The agreement covers approximately 4,900 current Middletown Works retirees. The retirees had been represented by the AEIF independent labor union, or its successor union, the IAM, during their employment with the company.

"We are very pleased that the court has approved this landmark agreement," said James L. Wainscott, chairman, president and CEO of AK Steel. "The court's approval allows the parties to establish an innovative VEBA trust to fund the health care benefits for this group of retirees."

Under terms of the agreement, AK Steel will fund the VEBA trust and transfer all of its retiree health care (OPEB) obligations for the covered retirees to the trust. The trust will be managed solely by the retirees' designees and will be utilized to fund the retirees' covered benefits. In exchange for the funding, AK Steel will have no further liability related to the Middletown Works retirees covered by the agreement.

The company said that the settlement will reduce by about one-half the company's total current OPEB liability of approximately $2 billion.

About AK Steel

AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets. The company employs about 6,500 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pennsylvania; Ashland, K
'/>"/>

SOURCE AK Steel
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2

Related medicine news :

1. Michigan Resident, Kimberly Kents Drug Product Liability Case Will Be Argued in the United States Supreme Court on February 25, 2008
2. Wyeth Wins Thimerosal-Autism Case in Maryland Court
3. Justice Department Requires Divestitures in Pearsons Acquisition of Harcourt Assessment
4. Lawsuit Filed in Florida Federal Court Over Marketing of Vytorin and Zetia By Merck and Schering-Plough
5. Boston Scientific Announces Court Decision
6. Memry Corporation Plans to Appeal Unfavorable Court Result
7. Aspreva receives final court approval for acquisition by Galenica
8. Wedgewood Pharmacy: U.S. Court of Appeals Vacates DEA Action
9. EPA Plan to Evade Required Cuts in Mercury Pollution Challenged in Court by States, Tribes, Health and Environmental Groups
10. Court issues final order approving Biomiras move to U.S. and name change to Oncothyreon
11. Supreme Court Hears Case on Federal Pre-emption of Safety Standards for Medical Technologies (Riegel v. Medtronic, Inc.)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/4/2015)... , ... September 05, 2015 , ... Paradise Valley ... China for an exclusive, one-night exhibition of their work at Paradise Valley Community College. ... Friday, September 18, from 6-9 pm. The artists will be on hand to meet ...
(Date:9/4/2015)... Los Angeles, CA (PRWEB) , ... September 04, 2015 , ... ... recent report in the Journal of the American Dental Association presented data showing that ... procedures. By comparing a group of pregnant women that had undergone local anesthesia with ...
(Date:9/4/2015)... , ... September 04, 2015 , ... Mile High Connects ... in which a lack of funding for sidewalks, bike paths, and other vital supports ... while the Denver region spends billions of dollars to expand public transit, there’s very ...
(Date:9/4/2015)... ... 2015 , ... IVF New England, one of the largest and most successful ... in Manchester for women who wish to learn more about their fertility and egg ... lounge, 827 Elm Street, Manchester, NH from 6PM to 7PM , This hip, casual ...
(Date:9/4/2015)... ... September 04, 2015 , ... Inmar announced today that ... of its Product, Quality and Manufacturers, Dietary Supplements and Supply Chain Committees. , ... the consumer goods industry, it can be difficult for companies to navigate, stay ...
Breaking Medicine News(10 mins):Health News:Paradise Valley Community College Announces Master Ceramic Artists & Exhibit 2Health News:Recent Study on Dental Care During Pregnancy Demonstrates How Preventative Dental Care Really is for Everyone, Says Medical Center Dental Care 2Health News:Missed Connections in Metro Denver Transit 2Health News:IVF New England to Host ManchVegas New Hampshire Fertility Happy Hour on October 15, 2015 in Manchester for Women Who Wish to Learn More About Fertility and Egg Freezing 2Health News:Inmar Experts To Address OTC Manufacturers’ Session on Hazardous Waste and Handling at CHPA Meeting 2Health News:Inmar Experts To Address OTC Manufacturers’ Session on Hazardous Waste and Handling at CHPA Meeting 3
... Meng, of Blacksburg, Va., a professor of virology in ... Biomedical Sciences and Pathobiology at Virginia Tech, has been ... the National Institutes of Health (NIH) to study the ... work is to develop a vaccine to protect people ...
... at the Medical College of Georgia and Georgia Research ... Mathilde Solowey Lecture Award in Neurosciences. , The ... the Sciences, honors young or rising neuroscientists who excel ... broad importance. , Dr. Mei will discuss his studies ...
... March 7 Most Baby Boomers,underestimate their risk of ... for an extended period of time, according to a ... Health Insurance,Plans (AHIP). The survey also found that Baby ... and are not too concerned about their risk,of becoming ...
... as Chief Scientific Officer, BOSTON, March 7 ... molecular diagnostics for lung cancer, has announced completion ... Partners led the round and,was joined by Catalyst ... and commercialize products based on gene,expression technology developed ...
... St. Louis, March 6, 2008 -- A brain network ... self-image or understanding the motivations of others -- is ... University School of Medicine in St. Louis have learned. ... between various brain regions as an individual matures. , ...
... be possible for anyone over 60 to predict their individual ... web-based tool, developed by the Sydney-based Garvan Institute of Medical ... end of March at www.fractureriskcalculator.com , Each person ... including sex, age, weight, history of prior fracture, number of ...
Cached Medicine News:Health News:Human, animal vaccine development goal of hepatitis E virus research 2Health News:Human, animal vaccine development goal of hepatitis E virus research 3Health News:Dr. Mei receives 2008 Mathilde Solowey Lecture Award in Neurosciences 2Health News:Dr. Mei receives 2008 Mathilde Solowey Lecture Award in Neurosciences 3Health News:New Harris Survey Finds That Most Baby Boomers Underestimate Disability Risk 2Health News:Allegro Diagnostics Closes $4 Million Round to Develop and Commercialize Lung Cancer Molecular Diagnostics Based on Gene Expression 2Health News:Allegro Diagnostics Closes $4 Million Round to Develop and Commercialize Lung Cancer Molecular Diagnostics Based on Gene Expression 3Health News:Brain network linked to contemplation in adults is less complex in children 2Health News:Brain network linked to contemplation in adults is less complex in children 3Health News:Launch of Web-based tool to predict risk of bone fracture 2
(Date:9/4/2015)... CHAPEL HILL, N.C. , Sept. 4, 2015 ... Science Liaisons (MSLs) and other Field-Based Medical Specialists ... physicians, key opinion leaders, and thought leaders in ... the effectiveness of their field-based teams, companies are ... in order to align countries with corporate objectives ...
(Date:9/4/2015)... 4, 2015  Essilor is pleased to announce the ... against the eyestrain that comes with the constant connection ... as an everyday pair of glasses to provide comfort ... on smart phones, tablets and computers for hours at ... require a prescription but also those who currently wear ...
(Date:9/4/2015)... 2015  Orexigen® Therapeutics, Inc. (Nasdaq: OREX ) today ... Wells Fargo Securities 2015 Healthcare Conference in Boston ... th at 2:30 p.m. Eastern Time. To listen to ... visit the Investors section of the Company,s Web site at ... days after the event.  Orexigen Contact: , ...
Breaking Medicine Technology:New Study Presents Tactics and Insights on How to Effectively Globalize Medical Science Liaison Programs in the Pharmaceutical Industry 2Essilor Launches New Eyezen Glasses Specifically Designed For A Digital Focused Audience 2
... July 21, 2011 BioMedix™, a leader in providing ... been awarded a U.S. Patent recognizing its innovative solutions ... On July 19, 2011, the United States ... entitled "System and Method for Testing for Cardiovascular Disease," ...
... IRVINE, Calif., July 21, 2011 Endologix, Inc. (NASDAQ: ... aortic disorders, today announced financial results for the three and ... Endologix President and Chief Executive Officer, said, "We are pleased ... to achieve our growth and new product development goals for ...
Cached Medicine Technology:BioMedix™ Receives Patent for Its Innovative Collaborative Care Business Method 2Endologix Reports 22% Second Quarter 2011 Revenue Growth 2Endologix Reports 22% Second Quarter 2011 Revenue Growth 3Endologix Reports 22% Second Quarter 2011 Revenue Growth 4Endologix Reports 22% Second Quarter 2011 Revenue Growth 5Endologix Reports 22% Second Quarter 2011 Revenue Growth 6Endologix Reports 22% Second Quarter 2011 Revenue Growth 7Endologix Reports 22% Second Quarter 2011 Revenue Growth 8Endologix Reports 22% Second Quarter 2011 Revenue Growth 9
... designed for vascular labs already equipped ... Its primary use will be for ... cuff with air. Blood pressures ... - a proximal occluding cuff connected ...
... System is perfect for larger surgery suites that ... anesthetic agent. , ,The Integra II SP ... stance, has a larger work area. The ... in both the Integra I and II. ...
... Closures represent a needleless, intuitive ... of surgical incisions, excisions and ... film design provides unparalleled improvements ... visibility and cosmetic results, translating ...
The Next Generation in Operating Room Equipment and Management Solutions is here Today. NuBoom is a self-contained, pedestal-mounted boom that houses medical, audio and visual equipment....
Medicine Products: