# UAW Retirees Health Care Plan

UAW Retirees Health Care Plan is a Pension Fund based in Washington, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Washington, United States
- **Region:** North America
- **Address:** 1155 Brewery Park Boulevard Suite 400, Washington, MI, United States
- **Founded:** 2010
- **Assets under management:** Undisclosed
- **Website:** www.uawtrust.org
- **LinkedIn:** https://www.linkedin.com/company/uaw-retiree-medical-benefits-trust

## Regulatory record

- **Reports private funds:** No

## About

The UAW Retirees Health Care Plan was created in 2010 via collective bargaining between the International Union, UAW and the three major Detroit automakers. It functions as a defined benefit health and welfare plan that pays retirement medical benefits to eligible participants. Funding flows from the manufacturers into dedicated accounts rather than a single pooled vehicle. The plan allocates across private equity, public equities, real estate, and credit strategies. Confirmed holdings include limited partnership interests in Cerberus Institutional Real Estate Partners V and Wellington Global Managed Risk Plus II, plus ownership of FHC Real Assets. Geographic exposure centers on the United States with additional activity through domestic credit and real asset vehicles. Separate retiree accounts for Ford, GM, and Chrysler hold the bulk of assets. The organization employs 134 professionals at its Washington, Michigan headquarters. It maintains service relationships with State Street Bank as trustee and custodian, Callan and Meketa as investment consultants, and GCM Grosvenor for alternatives. In May 2025 the plan participated as a speaker at the UAW Region 8 Retiree Conference to present trust updates. The plan operates under a VEBA structure created through union negotiations rather than a conventional corporate pension. This architecture ties investment decisions directly to benefit payment obligations negotiated with the automakers and subjects governance to fiduciary oversight by Brock Fiduciary Services.

## Sectors

- Healthcare
- Financial Services

## People

- Jessica Gubing — Chief Executive Officer
- Hershel Harper — Chief Investment Officer

## Questions

### Who runs investment decisions at the UAW Retirees Health Care Plan?

Jessica Gubing serves as Chief Executive Officer and Hershel Harper serves as Chief Investment Officer. Investment consultants Callan, Meketa, and GCM Grosvenor provide external support.

### How is the UAW Retirees Health Care Plan funded?

The plan receives contributions from General Motors, Ford Motor, and Stellantis under collective bargaining agreements with the International Union, UAW. Separate retiree accounts track assets attributable to each manufacturer.

### Does the UAW Retirees Health Care Plan invest in private equity?

Yes. The plan holds private equity exposure through limited partnership interests and co-investment strategies. Allocation data shows double-digit percentages committed to the asset class.

### What public equity positions does the UAW Retirees Health Care Plan disclose?

As of the January 2026 filing the plan reported a 99.2% stake in NCSLF. It also maintains positions in Ford Motor and General Motors shares.

### Which service providers support the UAW Retirees Health Care Plan?

State Street Bank acts as institutional trustee and custodian. Brock Fiduciary Services serves as independent fiduciary. Blue Cross Blue Shield of Michigan and UnitedHealthcare provide health plan coverage.

### Is the UAW Retirees Health Care Plan a member of any investor coalitions?

The plan is a founding member of Investors for Opioid Accountability and holds membership in the Council of Institutional Investors.

### What is the relationship between the UAW Retirees Health Care Plan and the automakers?

General Motors, Ford, and Stellantis fund the plan through contractual obligations established in UAW collective bargaining. The plan exited its equity position in Chrysler in 2014 for $4.35 billion.

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Last updated: 2026-06-03T20:00:00.000Z

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