The UMWA 1974 Pension Plan and Trust is a continuation of the benefit program established under the UMWA Welfare and Retirement Fund of 1950 and is the surviving plan following the merger of the 1974 Pension Plan and the 1950 Pension Plan.
The 1974 Pension Plan and Trust provides pensions to eligible mine workers who retire, to those who become totally disabled as a result of a mine accident, and to the eligible surviving spouses of mine workers.
All major policy decisions for the 1974 Pension Plan and Trust are made by four trustees. The duties of the trustees include collecting funds owed to the 1974 Pension Plan, interpreting the provisions of the Plan, and investing the assets of the Trust.
The UMWA and the BCOA each appoint Trustees. Michael H. Holland and Micheal W. Buckner have been appointed by the UMWA, and Michael O. McKown and Michael D. Loiacono have been appointed by the BCOA. Mr. Holland is Chairman of the Board of Trustees.