Category: AKSteel

Here is some year-end followup to a story we covered a fair bit while it was on, the AK steel strike.

The Enquirer (Cincinatti)
The union that represents workers at AK Steel’s Middletown Works is, like the company itself, leaner and focused on surviving in a competitive global economy.
A new union leader takes over next month, with both sides ready to look ahead after a year that began with the company in the midst of a lockout that was then the nation’s longest major work stoppage. The union has also rebuilt itself a little, with new members coming from replacement workers kept after the lockout ended in March.

Yahoo! Finance

A federal appeals court on Friday upheld a ruling awarding at least $46.2 million to 1,250 former employees of AK Steel Holding Corp. who claimed the steelmaker miscalculated their pension benefits under an early retirement program.

The plaintiffs, who had retired or were terminated since Jan. 1, 1995, sued the company in 2002. They said that AK’s method of calculating lump sum payments to workers who had not reached full retirement age did not comply with federal law and resulted in underpayments for participants in one of its pension plans.