United Mine Workers of America Prefunded

“Business relationships: trustees micheal w buckner and michael mckown are trustees of the united mine workers of america 1993 benefit plan, the united mine workers of america 1992 benefit plan the united mine workers of america combined benefit plan, the united mine workers of america 1974 pension plan, and the united mine workers of america cash deferred savings plan of 1988. Trustees micheal w buckner, michael mckown, and paul piccolini are trustees of the united mine workers of america 1993 benefit plan, the united mine workers of america combined benefit plan, the united mine workers of america 1992 benefit plan, and the united mine workers of america prefunded benefit plan.”

“Election or appointment of governing body: pursuant to the united mine workers of america prefunded benefit plan agreement and declaration of trust, the plan is administered by a board of four trustees who are the individuals serving as the trustees of the united mine workers of america 1993 benefit plan, two of whom are appointed by the bituminous coal operators' association ("bcoa"), and two of whom are appointed by the united mine workers of america ("umwa"). The umwa may remove the trustees appointed by it, at any time and for any reason, and the bcoa may remove the trustees appointed by it, at any time and for any reason. In the event of resignation, death, removal, inability or unwillingness to serve of a trustee, the party who appointed the trustee shall appoint a successor. The person serving as the chairman of the united mine workers of america 1993 benefit plan serves as the chairman of the plan.”

“Form 990 review process: the trustees, management staff, and legal counsel of the plan have extensively reviewed the prepared (by an independent certified public accounting firm) form 990 prior to the signing and filing of the form with internal revenue service.”

“Conflict of interest policy compliance: the united mine workers of america prefunded benefit plan requests trustees and staff, on an annual basis, to review the organization's conflict of interest policy, to provide a list of potential conflicts of interest to management and to declare that, to the best of their knowledge, they have no other potential conflicts of interest.”

“Compensation review and approval process: the umwa prefunded benefit plan ("the plan") receives administrative services jointly with other health and pension plans serving retirees of the coal mining industry. These plans are collectively referred to as the umwa health & retirement funds ("the funds"). Pursuant to administrative service agreements, the umwa 1974 pension trust serves as master administrative entity for the other plans and employs the administrative staff of the funds. Compensation of the executive director and other key staff officers, including heads of all staff departments, is determined by the board of trustees of the 1974 pension trust after consultation with the board of trustees of the plan and other boards of trustees of plans among the funds. Neither the executive director nor any staff officer serves on the plan's or any of the funds' boards of trustees. Compensation of the executive director and all key staff officers (as well as all other staff employees) is determined based upon results of periodic surveys and analysis conducted by expert outside consultants who gather and review compensation data from comparable positions at comparable organizations. The most recent such survey and analysis was conducted by aon hewitt in 2024. The reports and supporting documentation of outside compensation consultants and the memoranda and minutes reflecting the board of trustees' review of these reports and their establishment of compensation of the executive director and other key staff officers all constitute the contemporaneous documentation of decisions regarding the compensation arrangement, and all are maintained as part of the records of the plan and the funds.”

“Public availability of documents: the organization makes its governing documents, conflict of interest policy, whistle blowing and audited financial statements available to the public by providing copies upon request or inspection at the office of the organization.”

“Estimated amount of other compensation from filing and related organization: $29,167 included in other compensation represents amounts calculated by the plan actuary as the annual increase in actuarial value of qualified defined benefits. These amounts reported are not actual outlays of compensation to the trustees and officers.”

“OTHER CHANGES IN NET ASSETS OR FUND BALANCES: $ 64,674 pension-related changes $ (25,253) postretirement benefit-related changes ----------- $ 39,421 total other changes in net assets ===========”