American Bar Association American Bar Association

Shifting Retiree Health Benefits from Employers to VEBAs

SPONSORS: The Sections of Business Law, Health Law, Labor and Employment Law, Real Property, Trust and Estate Law, Taxation, and Tort Trial and Insurance Practice; And the American College of Employee Benefits Counsel

General Information

A 90-minute TeleConference/Live Audio Webcast
Thursday, December 6, 2007

1:00 - 2:30 pm ET / 12:00 - 11:30 pm CT / 11:00 am -12:30 pm MT / 10:00 - 11:30 am PT

Although many employers have eliminated retiree medical benefits, a number of companies are shifting their liabilities to voluntary employee benefit associations (VEBAs) along with billions of dollars in funding. The UAW and the Steelworkers have recently negotiated VEBAs for their retirees at GM, Chrysler and Goodyear that will be independent of the employer once funded. The panel of experienced benefits attorneys who have been involved with VEBAs established through collective bargaining and/or class action litigation will discuss:

  • Recent decisions concerning the employer’s right to modify or terminate retiree benefits
  • 6th Circuit approval of the 2005 GM and Ford VEBA settlements
  • New retiree VEBAs negotiated by Goodyear and the Big 3 auto companies
  • Retiree VEBAs to satisfy retiree claims as a result of modification of benefits under Section 1114 of the Bankruptcy Code
  • Prohibited transaction exemptions of employer securities are contributed
  • VEBA governance if not traditional Taft-Hartley plans
  • Impact on the employer’s balance sheet

Nell Hennessy,
Fiduciary Counselors, Washington, DC


Douglas Greenfield Bredhoff & Kaiser, PLLC, Washington, DC

Karen L. Handorf, Cohen, Milstein, Hausfeld & Toll PLLC, Washington, DC

Vicki V. Hood, Kirkland & Ellis LLP, Chicago, IL



**To pay by check, mail to ABA/JCEB, 3rd Floor, 740 15th Street, N.W., Washington, DC 20005**



Shifting Retiree Health Benefits from Employers to VEBAs
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