Heafner Tire Group Inc Employee Welfare Benefit Plan

The Heafner Tire Group Inc Employee Welfare Benefit Plan is a Voluntary Employee Beneficiary Association (VEBA) tax-exempt trust, dedicated to providing funding for the payment of health benefits to full-time employees of American Tire Distributors, Inc. The trust's primary mission is to ensure that eligible employees have access to essential health benefits.

Established as a charitable trust, the Heafner Tire Group Inc Employee Welfare Benefit Plan operates as a separate entity from the corporation. It exists to safeguard the financial resources necessary to meet the health benefit needs of American Tire Distributors, Inc.'s employees, even after the termination of the medical VEBA trust on July 26, 2021. Prior to its termination, the trust accepted contributions to accumulate funds to cover health benefit expenses for employees. The remaining assets were subsequently used to pay out member claims up to that date.

In essence, the Heafner Tire Group Inc Employee Welfare Benefit Plan functions as a safety net for the company's employees, ensuring they maintain access to crucial health benefits throughout their employment. By providing this essential coverage, the trust plays a pivotal role in enhancing the overall well-being and job satisfaction of the employees, ultimately benefiting both the company and its workforce.