The UMWA Prefunded Benefit Plan was established on January 1, 2008 by a collective bargaining agreement between the UMWA and the BCOA. The Prefunded Benefit Plan contracts with the UMWA 1974 Pension Trust for administrative services.
The Prefunded Benefit Plan currently provides health and other non-pension benefits to eligible retired miners whose last signatory employer was Carbontronics of Kentucky, LLC or Carbontronics of Indiana, LLC.
All major policy decisions for the Prefunded Benefit Plan are made by the board of four trustees. The duties of the trustees include interpreting the provisions of the plan and investing the assets of the trust.
The UMWA and the BCOA each appoints two trustees. Michael H. Holland and Micheal W. Buckner have been appointed by the UMWA, and Michael O. McKown and Joseph R. Reschini have been appointed by the BCOA. Mr. Holland is Chairman of the Board of Trustees.
UMWA Prefunded Benefit Plan Summary Annual Report - Dec 2011