Administration November 5, 2003

PNC Tapped as LTV Benefits Trustee, Custodian

May 23, 2002 (PLANSPONSOR.com) - PNC Bank has been named as trustee and custodian for The Steel Workers Benefits VEBA Trust, which will provide health coverage for retirees and laid-off employee of LTV Steel Corporation.

Reported by

Fred Schneyer

The LTV employees set up the company earlier this year to provide health and other benefits after the bankrupt steel maker was unable to provide them.

For post-65 Medicare eligible retirees, this plan fills the gaps in Medicare, and carries a price tag as low as $93.00 per month. An optional Generic-only Prescription drug plan is available for $32.50 per month. For those younger than 65, the plan is available for as little as $212 per month for an individual and $489 per month for a family.

Members may participate beginning May 1, 2002 and the open enrollment period for the plan extends through June 30, 2002.

Plan members can access their benefits and a health information resource center online. They can also call 800-717-7895.

The employee company will also provide dental coverage, life insurance, and a critical illness insurance plan.