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ArcelorMittal USA LLC VEBA Retiree Benefits Plan
The plan was established in 2002 to address benefit obligations after bankruptcies at LTV Steel, ACME Steel, Bethlehem Steel, Georgetown Steel, and Weirton...
Overview
The plan was established in 2002 to address benefit obligations after bankruptcies at LTV Steel, ACME Steel, Bethlehem Steel, Georgetown Steel, and Weirton Steel. Assets are held in the Cleveland-Cliffs Steel LLC VEBA Trust Portfolio. The structure channels funding through the plan sponsor and labor union agreement to maintain retiree coverage across North America. Cleveland-Cliffs Inc. acts as plan sponsor. The United Steelworkers participates in benefit determinations. No additional offices or professional headcount figures appear in available records. Governance rests on the sponsor-union framework created at formation rather than a conventional investment mandate.
General information
Firm type
Pension Fund
Year founded
2002
Location
Region
North America
Country
United States
City
Cleveland
Corporate office
Cleveland, OH, United States
Principals
Christine Fleps
Principal Officer
Frequently asked questions
Who runs investment decisions at the ArcelorMittal USA LLC VEBA Retiree Benefits Plan?
Christine Fleps serves as principal officer. The United Steelworkers and Cleveland-Cliffs Inc. jointly oversee benefit determinations and trust administration.
How is the ArcelorMittal USA LLC VEBA Retiree Benefits Plan related to Cleveland-Cliffs Inc.?
Cleveland-Cliffs Inc. became plan sponsor after acquiring ArcelorMittal USA in 2020. The trust continues to operate as the Cleveland-Cliffs Steel LLC VEBA Trust.
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