F ..U...C...K J...O...B
"Just 26% of
large U.S. companies that provide health care extend
those benefits to retirees, down from 37% a decade ago"
enter VEBA
"Union-run VEBAs gained popularity in the last decade as
a way to clear retiree-benefit obligations off
companies' books and shift the burden to independent
trust funds. "
"Often, they were last-ditch efforts by
unions to salvage health-care benefits for their
members amid major restructurings or bankruptcies."
" But now that the VEBAs are running low on cash, unions are
the ones doing the slashing "
