Traverse City Record-Eagle

Business

May 22, 2014

UAW says it will help fund Detroit retirees' health costs

DETROIT (AP) — The United Auto Workers union has agreed to help fund the health care costs for retired Detroit employees as part of a deal to protect the city’s art collection from sale under the municipal bankruptcy process.

U.S. District Court mediators said in a statement Wednesday that the union and its supporters “will be participating in the so-called ‘grand bargain’” to cover retiree costs and guard the art collection.

The announcement doesn’t say how much the UAW will contribute. The Detroit News says the Michigan Building and Construction Trades Council is committing $3 million to $5 million.

The Michigan House is considering a $194.8 million contribution that’s the equivalent of $350 million spread over 20 years.

Foundations and the Detroit Institute of Arts have pledged $466 million over 20 years.

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