The UMWA Combined Benefit Fund (“Combined Benefit Fund”) was established by federal law under the Coal Industry Retiree Health Benefit Act of 1992. Effective February 1, 1993, the UMWA 1950 Benefit Plan and Trust and the UMWA 1974 Benefit Plan and Trust were merged into the Combined Benefit Fund. The Combined Benefit Fund contracts with the UMWA 1974 Pension Trust for administrative services.
The Combined Benefit Fund provides health and death benefits to individuals who were eligible to receive and receiving benefits from the 1950 Benefit Plan or the 1974 Benefit Plan on July 20, 1992.
All major policy decisions for the Combined Benefit Fund are made by seven trustees. The duties of the trustees include collecting funds owed to the Combined Benefit Fund, interpreting the provisions of the plan to pay benefits, and investing the assets of the trust.
The UMWA and the BCOA each appoint trustees. These Trustees will select the remaining three neutral Trustees. Trustee Micheal W. Buckner has been appointed by the UMWA; Michael O. McKown and Joseph R. Reschini have been appointed by the BCOA. Trustees William P. Hobgood, Carl E. Van Horn and Gail R. Wilensky are the three additional trustees. Mr. Micheal W. Buckner and Mr. Michael O. McKown are Co-Chairmen of the Board of Trustees.
UMWA Combined Benefit Fund Summary Annual Report – Sept 2011