§9702 Establishment of the United Mine Workers of America Combined Benefit Fund

Summary

Within 60 days after the law passed, the people named below must pick trustees to set up a private plan called the United Mine Workers of America Combined Benefit Fund. On February 1, 1993, the 1950 and 1974 UMWA Benefit Plans must be merged into that Combined Fund, and that merger will not count as an employer withdrawal under any 1988 coal wage agreement. The Combined Fund will be treated as a plan under the Labor Management Relations Act (section 302(c)(5)), as an employee welfare benefit plan and a multiemployer plan under ERISA, and as tax-exempt under section 501(a). The trustees are chosen like this: 2 employer representatives named by the BCOA, 2 named by the United Mine Workers of America, and 3 chosen by those four. Replacement trustees are picked the same way, and the plan must allow trustees to be removed. If the BCOA no longer exists, the 2 employer trustees are picked by the 3 employers who were BCOA members on the enactment date and who have the most eligible beneficiaries under section 9706. The first plan year runs February 1, 1993 to September 30, 1993. After that, each plan year starts October 1.