[20170315]IF10617_美国矿山工人联合会退休人员养老金福利.pdf

https:/crsreports.congress.gov March 15, 2017Pension Benefits for United Mine Workers of America RetireesThe United Mine Workers of America (UMWA) is a labor union that primarily represents coal mine workers. Eligible UMWA members receive post-retirement health and pension benefits from one of three multiemployer health benefit plans and one multiemployer pension plan. A multiemployer plan is sponsored by employers in the same industry and is maintained as part of a collective bargaining agreement. This In Focus only concerns pension benefits. For health benefits information, see CRS In Focus IF10616, Health Benefits for United Mine Workers of America Retirees. UMWA Pension Benefits Eligible retired UMWA mine workers receive pension benefits from the UMWA 1974 Pension Plan and Trust (1974 Plan). The 1974 Plan is a multiemployer defined benefit (DB) pension plan. In multiemployer DB plans, participants typically receive a monthly payment in retirement that is based on a formula that uses the length of service and a benefit rate. For example, the monthly benefit in retirement might be $40 per year of service. An individual with 30 years of service would receive a monthly benefit of