The Administrator of the Steelworkers Pension Trust is the Board of Trustees. The Board of Trustees is responsible for overseeing all Trust operations and performance. The Board of Trustees consists of ten (10) Trustees, five (5) representing employees (Employee Trustees) and five (5) representing employers (Employer Trustees). All decisions made by the Trustees must be approved by a majority of the Employee Trustees and a majority of the Employer Trustees. There is a mechanism for resolving impasses between the two sides which may be triggered by a majority vote of either side. The Trustees receive no compensation. The current Trustees are:
Michele Fredrickson (USW District 11)
Mark Granakis (Contract Coordinator – USW Local 979)
David McCall (Vice President – Administration – USW International)
John Shinn (Secretary-Treasurer – USW International)
Michael Yoffee (Assistant to the President – USW International)
Christine F. Fleps (ArcelorMittal USA Inc.)
Bryan Lewis (U.S. Steel Corporation)
Robert L. Pope (Swenson Granite Co.)
LeaAnn M. Stagg (Essentia Health)
The Trust has three Committees of the Board of Trustees:
Investment Advisory Committee
All Trustees are members of this Committee, which meets prior to each Board of Trustees meeting. The Investment Advisory Committee reviews all investment performance and makes investment decisions in conjunction with investment consultants and the actuary.
Investment Allocation Sub-Committee
This Committee meets twice per year and is comprised of four Trustees, two representing participating Employers and two representing Employees. The Investment Advisory Sub-Committee provides the Trust with increased flexibility and timeliness with regard to allocation and reallocation of Trust assets.
This Committee meets quarterly and is comprised of two Trustees, one representing participating Employers and one representing Employees. The Appeals Committee has the full, complete and final authority to interpret plan provisions determining a Claimant’s eligibility for a benefit and/or the amount of the benefit.