The Steel Industry Consolidation and Retiree Benefits Protection Act of 2002 (S-2189) calls for a program to cover the legacy costs of health care and death benefits for the retirees of steel, iron ore and coke companies.
The bill’s major provisions include:
- The creation of a health care program that would
cover retirees and eligible spouses and surviving
spouses. Steelworkers retirees would pay monthly premiums
and medical care would be delivered through preferred
- The establishment of a $5,000 death benefit to the designated beneficiary of each enrolled retiree.
Representative Phil English (D-Pennsylvania), the
chairman of the steel caucus is drafting a companion bill.