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None of petitioner's collective bargaining agreements
required use of a welfare benefit fund or prefunding of the
negotiated benefits. Petitioner's 1987 contribution included
$3,210,991 for union medical benefits estimated to be incurred
but unpaid after June 30, 1987.
Actual Expenditures
The following amounts were paid by Provident, on behalf of
the VEBA Trust, for medical, short-term disability, dental and
life benefits, and administrative fees for employees covered by
collective bargaining agreements:
Year Ended Amount1
June 30, 1988 $2,881,637
June 30, 1989 3,869,076
June 30, 1990 5,728,512
June 30, 1991 4,189,156
1These amounts include payments made
relative to contracts not in force on
June 30, 1987. Also, because the VEBA Trust
reimbursed Provident for these payments,
there is a slight timing difference resulting
from these disbursements.
During fiscal 1988, 1989, and 1990, Provident, on behalf of the
VEBA Trust, paid the following amounts for medical, short-term
disability, dental and life benefits, and administrative fees for
employees covered by collective bargaining agreements in effect
on June 30, 1987:
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