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 not tax deductible.
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Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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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.
Impact
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.
Thursday, August 15, 2024
The United States Steel Corporation Retiree Insurance Benefits Trust has a significant impact by providing payment of life and health insurance benefits for retired employees of U.S. Steel. It plays a crucial role in ensuring that retired workers and their beneficiaries receive necessary insurance coverage as outlined in the plan established on December 31, 2010. In the 2022 calendar year alone, the Trust supported 26,002 participants by paying a total of $166,633,262 in life and health insurance benefits. This assistance is vital in safeguarding the well-being and financial security of retired employees and their families who rely on these benefits for their healthcare needs.
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.
- Assets and Liabilities:
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) 433-5070
Main Address
600 GRANT STREET ROOM 1944, PITTSBURGH, PA, 15219
NTEE Category
Code: Y20 - Mutual benefit
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