UMWA 1974 Pension Trust

The 1974 Pension Trust is one of several trusts that constitute the United Mine Workers of America Health and Retirement Funds ("Funds"); they succeed the UMWA Welfare and Retirement Fund of 1950. The Fund provides pensions to former classified employees in the bituminous coal industry and to their eligible widows.

The Fund was formally established by the National Bituminous Coal Wage Agreement (NBCWA) of 1974, the National Coal Mine Construction Agreement of 1974, and the Western Surface Coal Wage Agreement of 1975. However, workers employed under construction and Western Surface Coal Wage surface agreements may now receive their pension from other plans.

The 1974 Pension Plan

The 1974 Pension Plan is one of two pension plans agreed to by the UMWA and the signatory employers during negotiation of the NBCWA of 1974; the other is called the 1950 Pension Plan. The 1974 Pension Plan with assets of over $6 billion, provides pensions to over 77,000 eligible mine workers who left the industry after December 30,1975, to those who became totally disabled after December 5, 1974, as a result of a mine accidents, and to the eligible surviving spouses of mineworkers.

Plan Administration

All major policy decisions for the 1974 Pension Plan and Trust are made by four trustees. The duties of the trustees include interpreting the provisions of the plans and investing the assets of the trust. The UMWA and the Bituminous Coal Operators' Association (BCOA) each appoint two trustees. Michael H. Holland and Micheal W. Buckner have been appointed by the UMWA, and B. V. Hyler and Steven F. Schaab have been appointed by the BCOA. Mr. Holland is Chairman of the Trustees.

E-mail to John Wible with any Web page comments or corrections. Updated 2007