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The United Mine Workers of America (UMW or UMWA) is a North American labor union best known for representing coal miners. Today, the Union also represents health care workers, truck drivers, manufacturing workers and public employees in the United States and Canada. [ 1 ]
The decline of the coal industry and miners that contribute to the UMWA Health and Retirement Funds, results in their inability to provide coverage for retired coal miners. [ 4 ] [ 5 ] The Miners Protection Act would provide an increase in funds to the organizations that support retired coal miners, such as the United Mine Workers of America ...
It provides retirement benefits, survivor benefits, and disability income to eligible individuals and their families, serving as a crucial safety net for millions of Americans. Social Security operates as an insurance program, where workers contribute to the system through payroll withholding.
The Pittston Coal strike was a United States strike action led by the United Mine Workers Union (UMWA) against the Pittston Coal Company, nationally headquartered in Pittston, Pennsylvania. The strike, which lasted from April 5, 1989 to February 20, 1990, resulted from Pittston's termination of health care benefits for approximately 1,500 ...
The United Mine Workers of America (UMWA) has cleared members to return to work at Alabama’s Warrior Met coal mine after a nearly two-year strike. UMWA President Cecil Roberts announced Thursday ...
Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.
Image source: Getty Images. Easier access to workplace retirement plans. Part-time workers will now have an easier time contributing to their employers' 401(k) plans, thanks to a provision in the ...
On December 6, 1974, a new National Bituminous Coal Wage Agreement resulted in the development of four separate trust funds, replacing the single Welfare and Retirement Funds. The 1950 Benefit Pension Trust was created for workers retiring before 1976; the 1974 Pension Trust, for workers retiring after 1975; the 1950 Benefit Trust, provides ...