Retirees of the Goodyear Tire & Rubber Company Health Care Trust

Retirees of the Goodyear Tire & Rubber Company Health Care Trust

The Retirees of the Goodyear Tire & Rubber Company Health Care Trust was established in 2008, formalizing a landmark 2006 labor settlement between Goodyear and the United Steelworkers. The agreement shifted responsibility for union retiree health benefits from the company's balance sheet to an independently governed trust. Committee members include Thomas F. Duzak as chair, former U.S. Assistant Secretary of Labor for EBSA Phyllis C. Borzi, and labor economist Teresa Ghilarducci — a governance mix that blends fiduciary oversight with deep retirement-security expertise. The trust's investment approach is dictated entirely by its liability stream: funding health premiums and medical costs for a closed group of eligible participants and surviving spouses. The portfolio is designed to balance current benefit payouts with long-term asset growth. While specific asset-class allocations and external manager relationships are not publicly disclosed, the trust functions as a perpetual health-care payer, demanding a defensive, income-aware posture with a long-duration horizon. Its geographic footprint is rooted in the U.S. industrial Midwest and wherever Goodyear retirees have settled. The trust manages an estimated $860M in assets (Altss estimate) from its Pittsburgh headquarters. Its administration office at 60 Boulevard of the Allies handles participant enrollment, provider interactions, and reporting to the oversight committee. There are no adjacent philanthropic vehicles, co-investment clubs, or pooled external-capital structures — the vehicle exists for one purpose. No major operational events have been publicly reported in the last 24 months. Its structural differentiator is its origin as a collectively bargained health-care trust, not a foundation or traditional endowment. This creates an unusual governance model where union appointees and independent fiduciaries jointly oversee a pool of capital for health — not pension — benefits. Unlike a pension, the trust's liability is not a fixed check but variable medical claims inflation, making it one of the more idiosyncratic risk pools in the institutional asset-owner universe.