(1) In general
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) Merger of retiree benefit plans
As of
(3) Treatment of plan
The Combined Fund shall be—
(A) a plan described in of the Labor Management Relations Act, 1947 (
(B) an employee welfare benefit plan within the meaning of of the Employee Retirement Income Security Act of 1974 (
(C) a multiemployer plan within the meaning of of such Act (
(4) Tax treatment
For purposes of this title, the Combined Fund and any related trust shall be treated as an organization exempt from tax under .
(1) In general
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
(C) 3 individuals selected by the individuals appointed under subparagraphs (A) and (B).
(2) Successor trustees
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) Special rule
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.
The first plan year of the Combined Fund shall begin