§9702 — Title 26 Internal Revenue Code | U.S. Code

Summary

This part of the coal industry retiree health law created the United Mine Workers of America Combined Benefit Fund, a private benefit plan for retired coal miners. As of February 1, 1993, the two older miner benefit plans — the 1950 and 1974 UMWA benefit plans — were merged into the Combined Fund, and the merger did not count as an employer pulling out under the 1988 coal wage agreements. The fund is treated as a tax-exempt multiemployer welfare plan. The fund is run by a board of 7 trustees: 2 chosen by the coal operators' association (BCOA), 2 by the United Mine Workers of America, and 3 picked by those four. If the BCOA goes away, its trustees are named by the 3 former member companies with the most covered retirees. The fund's first plan year ran from February 1, 1993 to September 30, 1993; each plan year since starts October 1.

Title 26, §9702

Internal Revenue Code — Source: USLM XML via OLRC

(a)(1)As soon as practicable (but not later than 60 days) after the enactment date, the persons described in subsection (b) shall designate the individuals to serve as trustees. Such trustees shall create a new private plan to be known as the United Mine Workers of America Combined Benefit Fund.

(2)As of February 1, 1993, the settlors of the 1950 UMWA Benefit Plan and the 1974 UMWA Benefit Plan shall cause such plans to be merged into the Combined Fund, and such merger shall not be treated as an employer withdrawal for purposes of any 1988 coal wage agreement.

(3)The Combined Fund shall be—

(A)a plan described in section 302(c)(5) of the Labor Management Relations Act, 1947 (29 U.S.C. 186(c)(5)),

(B)an employee welfare benefit plan within the meaning of section 3(1) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002(1)), and

(C)a multiemployer plan within the meaning of section 3(37) of such Act (29 U.S.C. 1002(37)).

(4)For purposes of this title, the Combined Fund and any related trust shall be treated as an organization exempt from tax under section 501(a).

(b)(1)For purposes of subsection (a), the board of trustees for the Combined Fund shall be appointed as follows—

(A)2 individuals who represent employers in the coal mining industry shall be designated by the BCOA;

(B)2 individuals designated by the United Mine Workers of America; and

(2)Any successor trustee shall be appointed in the same manner as the trustee being succeeded. The plan establishing the Combined Fund shall provide for the removal of trustees.

(3)If the BCOA ceases to exist, any trustee or successor under paragraph (1)(A) shall be designated by the 3 employers who were members of the BCOA on the enactment date and who have been assigned the greatest number of eligible beneficiaries under section 9706.

(c)The first plan year of the Combined Fund shall begin February 1, 1993, and end September 30, 1993. Each succeeding plan year shall begin on October 1 of each calendar year.

Notes & Related Subsidiaries

Editorial Notes

Amendments

2006—Subsec. (b). Pub. L. 109–432 reenacted heading without change and amended text of subsec. (b) generally. Prior to amendment, text contained provisions which related to: in par. (1), appointment of one trustee by the BCOA, one by the three employers having the greatest number of eligible beneficiaries under section 9706, two by the United Mine Workers of America, and three by the persons otherwise appointed; in par. (2), successor trustees and removal of trustees; and in par. (3), special rules relating to designation of trustees or successor trustees if the BCOA should cease to exist and designation of the initial trustee.

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

Summary

Title 26, §9702

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata