Overview
What is United States Steel Corporation Retiree Health Benefits Reserve?
The United States Steel Corporation Retiree Health Benefits Reserve is a legally mandated asset trust, established under the Coal Act of 1992 and Internal Revenue Code sections 9711 and 9712. Its primary role is to secure and distribute health benefits to retired mineworkers of the United States Steel Corporation. This trust serves as a financial reserve, ensuring the payment of these benefits to the eligible retirees. The trust's operations are centered around managing and allocating the funds for this purpose. The trust plays a crucial role in providing financial security and support for retired mineworkers of United States Steel Corporation.
Is United States Steel Corporation Retiree Health Benefits Reserve legitimate?
United States Steel Corporation Retiree Health Benefits Reserve is a legitimate nonprofit organization registered as a 501(c)(9) entity. United States Steel Corporation Retiree Health Benefits Reserve 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 Health Benefits Reserve?
The United States Steel Corporation Retiree Health Benefits Reserve serves as an asset trust, mandated by the Coal Act of 1992. Its primary function is to secure and dispense health benefits to retired mineworkers of United States Steel Corporation. This is in compliance with Internal Revenue Code Sections 9711 and 9712. The reserve's purpose is to ensure the financial stability and continuity of health benefits for these retired mineworkers. It acts as a safety net, ensuring the retirees receive their due benefits, thereby providing them with peace of mind and financial security in their post-retirement years.
Who is the CEO of United States Steel Corporation Retiree Health Benefits Reserve?
Unavailable
What is the revenue of United States Steel Corporation Retiree Health Benefits Reserve?
United States Steel Corporation Retiree Health Benefits Reserve's revenue in 2022 was $127,714.
Who are the executives of United States Steel Corporation Retiree Health Benefits Reserve 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 Health Benefits Reserve?
United States Steel Corporation Retiree Health Benefits Reserve's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of United States Steel Corporation Retiree Health Benefits Reserve
The United States Steel Corporation Retiree Health Benefits Reserve serves as an asset trust, a requirement mandated by the Coal Act of 1992. Its primary function is to secure and disburse retirement benefits for mineworkers who have retired from United States Steel Corporation. This responsibility is instated by the Internal Revenue Code sections 9711 and 9712. Essentially, this trust acts as a financial reserve for the retirement health benefits of the retired mineworkers from United States Steel Corporation, ensuring their continued support and care post-employment.
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Impact
October, 2024
The United States Steel Corporation Retiree Health Benefits Reserve plays a crucial role in ensuring the financial well-being of retired mineworkers associated with the United States Steel Corporation. Established in compliance with the Coal Act of 1992, this asset trust is dedicated to the orderly escrow and disbursement of health benefits, thereby providing a safety net for retirees who may face significant healthcare costs.
By securing funds specifically for this purpose, the reserve helps to mitigate the financial risks associated with healthcare needs in retirement. This structure not only supports individual retirees but also contributes to broader community stability by alleviating potential financial burdens on families and local health systems. Overall, the reserve's operations directly impact the quality of life for these retirees, ensuring they have access to necessary health services throughout their later years.
This information is meant to be a general summary of United States Steel Corporation Retiree Health Benefits Reserve. 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.
- Investment Income: $127,714
- Gross Receipts: $6,136,382
Assets and Liabilities:
- Total Assets: $10,807,066
- Total Liabilities: $0
- Net Assets: $10,807,066
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Organization Details
Founding Year
2003
Phone
(412) 433-5070Main Address
600 GRANT STREET SUITE 1944, PITTSBURGH, PA, 15219
NTEE Category
Code: Y430 - Mutual benefit
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