In connection with the VEBA
Trusts acquisition in 2009 of the shares of GM common stock subject to this offering, the U.
In addition to the new hospital network, the district worked with its VEBA
trust, the Boards of Education Self-Funded Trust (BEST), to implement a new investment opportunity for the trust assets.
Peabody officials noted that the company already has contributed $165 million to VEBA
since 2013 under a prior three-party agreement that involved the union and Patriot.
Chrysler Group, a United States-based automaker, has completely repaid a USD5bn loan to the UAW's VEBA
Reuters reported previously that VEBA
seeks to get almost USD6bn (EUR4.
According to the informed people, VEBA
is trying to determine which option would provide it with more proceeds - a listing of the shares or a sale of the entire stake to Fiat.
countersued Fiat, claiming the Chrysler shares were worth about $343.
is a tax-exempt organization under Internal Revenue Code section 501(c) (9) that meets the following requirements:
For tax year 2000, CNG, a tax-exempt VEBA
, reported unrelated business taxable income (UBTI) of $2,693,592, from investments and paid UBIT of $1,065,684.
can be either a trust or a corporation, but is generally a trust.
Although similar to a retirement plan, a VEBA
is really an IRS-tax-exempt trust, to which a business owner can make discretionary contributions of pre-tax dollars, which in turn reduces the company owner's tax burden.
assets are protected from the claims of creditors, the amounts in which contributions are made can be flexible and benefits are highly favorable to the business owners, with no vesting for employees.