Caucus asks Continental to roll back retiree health care cuts
The Congressional Labor and Working Families Caucus says it has asked Continental AG to rescind cuts to the company's retiree health care plan.
The group accuses Continental's North American subsidiary, Continental Tire North America Inc., of "illegally imposing a $3,000 per year cap on payments for retiree health benefits. As a result... many retirees have to pay as much as $12,000 a year to keep their health insurance."
Some 2,500 retirees and dependents have been impacted by the cuts, according to the Caucus.