A bill to provide for stabilization of the process of providing coal industry health benefits, to clarify Federal tax treatment of the transfer of excess coal pension plan assets to coal health plans, and for other purposes.
Coal Industry Health Benefit Stabilization Act of 1989 - Authorizes the transfer of surplus assets from a coal industry pension plan to a coal industry health benefits plan, under specified conditions, without certain adverse effects in tax treatment under the Internal Revenue Code.
Obliges specified employers to continue to contribute to multiemployer coal industry health benefits plans.
Provides that nothing in this Act shall diminish or adversely affect any cause of action of such a plan, or its board of trustees, against an employer for contributions based on a collective bargaining agreement between the employer and a labor organization which is a settlor of the plan.
Directs the United Mine Workers of America and the Bituminous Coal Operators' Association to report by February 1, 1994, on the effect of this Act on the delivery of retiree health benefits in the bituminous coal industry.
Referred to the Subcommittee on Labor-Management Relations.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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