Overview
What is United States Steel Corporation Retiree Insurance Benefits Trust?
The United States Steel Corporation Retiree Insurance Benefits Trust is a trust established by the United States Steel Corporation to provide life and health insurance benefits for retired employees and their beneficiaries in accordance with the corporation's retiree insurance benefits plan. This trust, based in Pittsburgh, Pennsylvania, paid out a total of $166.6 million in benefits to over 26,000 participants in the 2022 calendar year. The trust's mission is to ensure the wellbeing of retired US Steel employees by delivering essential insurance benefits.
Is United States Steel Corporation Retiree Insurance Benefits Trust legitimate?
United States Steel Corporation Retiree Insurance Benefits Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. United States Steel Corporation Retiree Insurance Benefits Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of United States Steel Corporation Retiree Insurance Benefits Trust?
The United States Steel Corporation Retiree Insurance Benefits Trust is a trust established to provide life and health insurance benefits for retired employees and their beneficiaries of the United States Steel Corporation. According to the Plan, which was implemented on December 31, 2010, the Trust's mission is to administer and distribute these benefits in accordance with the terms of the Plan. The Trust's primary role is to ensure the financial security and well-being of retired employees by handling the payment of their insurance benefits. By providing these essential benefits, the Trust aims to help retired employees maintain their health and peace of mind as they transition into retirement.
Who is the CEO of United States Steel Corporation Retiree Insurance Benefits Trust?
Unavailable
What is the revenue of United States Steel Corporation Retiree Insurance Benefits Trust?
United States Steel Corporation Retiree Insurance Benefits Trust's revenue in 2022 was $166,124,065.
Who are the executives of United States Steel Corporation Retiree Insurance Benefits Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for United States Steel Corporation Retiree Insurance Benefits Trust?
United States Steel Corporation Retiree Insurance Benefits Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of United States Steel Corporation Retiree Insurance Benefits Trust
The United States Steel Corporation Retiree Insurance Benefits Trust is a trust established with a mission to provide life and health insurance benefits for retired employees of the United States Steel Corporation and their beneficiaries. The Trust was founded in accordance with the United States Steel Corporation Retiree Insurance Benefits Plan, which came into effect on December 31, 2010. In simple terms, this trust serves as a safety net, ensuring that retired employees of the United States Steel Corporation continue to receive essential insurance coverage, providing them with peace of mind and financial security during their post-employment years. The Trust's primary objective is to honor the commitments made by the United States Steel Corporation to its retired employees regarding their insurance benefits.
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Impact
October, 2024
United States Steel Corporation Retiree Insurance Benefits Trust provides critical financial support for retired employees of U.S. Steel by covering life and health insurance benefits. Established to honor the commitments made to retirees, the Trust helps alleviate the burden of healthcare costs for approximately 26,002 participants and their beneficiaries.
In the 2022 calendar year alone, the Trust disbursed over $166 million in benefits, ensuring that retirees have access to essential insurance coverage. This financial assistance plays a significant role in enhancing the quality of life for retired employees, allowing them to manage health concerns and enjoy their retirement without the looming worry of astronomical insurance bills.
By fulfilling its mission, the Trust reinforces the commitment of the United States Steel Corporation to its retired workforce, promoting a sense of security and appreciation for the years of service these employees dedicated to the company. The impact of the Trust is profound, illustrating the importance of providing continuous support to those who contributed to the company’s success throughout their careers.
This information is meant to be a general summary of United States Steel Corporation Retiree Insurance Benefits Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $166,124,065
- Gross Receipts: $166,124,065
Assets and Liabilities:
- Total Assets: $12,911,832
- Total Liabilities: $2,318,580
- Net Assets: $10,593,252
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TRUST CONTRIBUTIONS
Revenue
$74,019,344
EMPLOYER CONTRIBUTIONS
Revenue
$53,033,311
PARTICIPANTS CONTRIBUTIONS
Revenue
$39,071,410
Organization Details
Founding Year
2010
Phone
(412) 433-5070Main Address
600 GRANT STREET ROOM 1944, PITTSBURGH, PA, 15219
NTEE Category
Code: Y43 - Mutual benefit
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