II 

116TH CONGRESS 

1ST SESSION S. 671 

To amend the Surface Mining Control and Reclamation Act of 1977 to 

transfer certain funds to the 1974 United Mine Workers of America 

Pension Plan, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

MARCH 6, 2019 

Mrs. CAPITO (for herself and Mr. PORTMAN) introduced the following bill; 

which was read twice and referred to the Committee on Finance 

A BILL 

To amend the Surface Mining Control and Reclamation Act 

of 1977 to transfer certain funds to the 1974 United 

Mine Workers of America Pension Plan, and for other 

purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Miners Pension Protec5 tion Act’’. 


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1 SEC. 2. TRANSFERS TO 1974 UMWA PENSION PLAN. 

2 (a) IN GENERAL.—Subsection (i) of section 402 of 

3 the Surface Mining Control and Reclamation Act of 1977 

4 (30 U.S.C. 1232) is amended— 

5 (1) in paragraph (3)(A), by striking 

6 ‘‘$490,000,000’’ and inserting ‘‘$750,000,000’’; 

7 (2) by redesignating paragraph (4) as para8 graph (5); and 

9 (3) by inserting after paragraph (3) the fol10 lowing: 

11 ‘‘(4) ADDITIONAL AMOUNTS.— 

12 ‘‘(A) CALCULATION.—If the dollar limita13 tion specified in paragraph (3)(A) exceeds the 

14 aggregate amount required to be transferred 

15 under paragraphs (1) and (2) for a fiscal year, 

16 the Secretary of the Treasury shall transfer an 

17 additional amount equal to the difference be18 tween such dollar limitation and such aggregate 

19 amount to the trustees of the 1974 UMWA 

20 Pension Plan to pay benefits required under 

21 that plan. 

22 ‘‘(B) CESSATION OF TRANSFERS.—The 

23 transfers described in subparagraph (A) shall 

24 cease as of the first fiscal year beginning after 

25 the first plan year for which the funded per26 centage (as defined in section 432(j)(2) of the 


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1 Internal Revenue Code of 1986) of the 1974 

2 UMWA Pension Plan is at least 100 percent. 

3 ‘‘(C) PROHIBITION ON BENEFIT IN4 CREASES, ETC.—During a fiscal year in which 

5 the 1974 UMWA Pension Plan is receiving 

6 transfers under subparagraph (A), no amend7 ment of such plan which increases the liabilities 

8 of the plan by reason of any increase in bene9 fits, any change in the accrual of benefits, or 

10 any change in the rate at which benefits become 

11 nonforfeitable under the plan may be adopted 

12 unless the amendment is required as a condi13 tion of qualification under part I of subchapter 

14 D of chapter 1 of the Internal Revenue Code of 

15 1986. 

16 ‘‘(D) CRITICAL STATUS TO BE MAIN17 TAINED.—Until such time as the 1974 UMWA 

18 Pension Plan ceases to be eligible for the trans19 fers described in subparagraph (A)— 

20 ‘‘(i) the Plan shall be treated as if it 

21 were in critical status for purposes of sec22 tions 412(b)(3), 432(e)(3), and 

23 4971(g)(1)(A) of the Internal Revenue 

24 Code of 1986 and sections 302(b)(3) and 


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1 305(e)(3) of the Employee Retirement In2 come Security Act; 

3 ‘‘(ii) the Plan shall maintain and com4 ply with its rehabilitation plan under sec5 tion 432(e) of such Code and section 

6 305(e) of such Act, including any updates 

7 thereto; and 

8 ‘‘(iii) the provisions of subsections (c) 

9 and (d) of section 432 of such Code and 

10 subsections (c) and (d) of section 305 of 

11 such Act shall not apply. 

12 ‘‘(E) REQUIREMENT TO MAINTAIN CON13 TRIBUTION RATE.—No transfer under subpara14 graph (A) shall be made for a fiscal year unless 

15 the persons that are obligated to contribute to 

16 the 1974 UMWA Pension Plan as of the date 

17 of the transfer are obligated to make such con18 tributions at rates that are no less than those 

19 in effect on the date which is 30 days before 

20 the date of enactment of the Miners Pension 

21 Protection Act. 

22 ‘‘(F) ENHANCED ANNUAL REPORTING.— 

23 ‘‘(i) IN GENERAL.—Not later than the 

24 90th day of each plan year beginning after 

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1 sion Protection Act, the trustees of the 

2 1974 UMWA Pension Plan shall file with 

3 the Secretary of the Treasury or the Sec4 retary’s delegate and the Pension Benefit 

5 Guaranty Corporation a report (including 

6 appropriate documentation and actuarial 

7 certifications from the plan actuary, as re8 quired by the Secretary of the Treasury or 

9 the Secretary’s delegate) that contains— 

10 ‘‘(I) whether the plan is in en11 dangered or critical status under sec12 tion 305 of the Employee Retirement 

13 Income Security Act of 1974 and sec14 tion 432 of the Internal Revenue Code 

15 of 1986 as of the first day of such 

16 plan year; 

17 ‘‘(II) the funded percentage (as 

18 defined in section 432(j)(2) of such 

19 Code) as of the first day of such plan 

20 year, and the underlying actuarial 

21 value of assets and liabilities taken 

22 into account in determining such per23 centage; 

24 ‘‘(III) the market value of the as25 sets of the plan as of the last day of 


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1 the plan year preceding such plan 

2 year; 

3 ‘‘(IV) the total value of all con4 tributions made during the plan year 

5 preceding such plan year; 

6 ‘‘(V) the total value of all bene7 fits paid during the plan year pre8 ceding such plan year; 

9 ‘‘(VI) cash flow projections for 

10 such plan year and either the 6 or 10 

11 succeeding plan years, at the election 

12 of the trustees, and the assumptions 

13 relied upon in making such projec14 tions; 

15 ‘‘(VII) funding standard account 

16 projections for such plan year and the 

17 9 succeeding plan years, and the as18 sumptions relied upon in making such 

19 projections; 

20 ‘‘(VIII) the total value of all in21 vestment gains or losses during the 

22 plan year preceding such plan year; 

23 ‘‘(IX) any significant reduction 

24 in the number of active participants 

25 during the plan year preceding such 


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1 plan year, and the reason for such re2 duction; 

3 ‘‘(X) a list of employers that 

4 withdrew from the plan in the plan 

5 year preceding such plan year, and 

6 the resulting reduction in contribu7 tions; 

8 ‘‘(XI) a list of employers that 

9 paid withdrawal liability to the plan 

10 during the plan year preceding such 

11 plan year and, for each employer, a 

12 total assessment of the withdrawal li13 ability paid, the annual payment 

14 amount, and the number of years re15 maining in the payment schedule with 

16 respect to such withdrawal liability; 

17 ‘‘(XII) any material changes to 

18 benefits, accrual rates, or contribution 

19 rates during the plan year preceding 

20 such plan year; 

21 ‘‘(XIII) any scheduled benefit in22 crease or decrease in the plan year 

23 preceding such plan year having a 

24 material effect on liabilities of the 

25 plan; 


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1 ‘‘(XIV) details regarding any 

2 funding improvement plan or rehabili3 tation plan and updates to such plan; 

4 ‘‘(XV) the number of partici5 pants and beneficiaries during the 

6 plan year preceding such plan year 

7 who are active participants, the num8 ber of participants and beneficiaries in 

9 pay status, and the number of termi10 nated vested participants and bene11 ficiaries; 

12 ‘‘(XVI) the information contained 

13 on the most recent annual funding no14 tice submitted by the plan under sec15 tion 101(f) of the Employee Retire16 ment Income Security Act of 1974; 

17 ‘‘(XVII) the information con18 tained on the most recent Department 

19 of Labor Form 5500 of the plan; and 

20 ‘‘(XVIII) copies of the plan docu21 ment and amendments, other retire22 ment benefit or ancillary benefit plans 

23 relating to the plan and contribution 

24 obligations under such plans, a break25 down of administrative expenses of 


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1 the plan, participant census data and 

2 distribution of benefits, the most re3 cent actuarial valuation report as of 

4 the plan year, copies of collective bar5 gaining agreements, and financial re6 ports, and such other information as 

7 the Secretary of the Treasury or the 

8 Secretary’s delegate, in consultation 

9 with the Secretary of Labor and the 

10 Director of the Pension Benefit Guar11 anty Corporation, may require. 

12 ‘‘(ii) ELECTRONIC SUBMISSION.—The 

13 report required under clause (i) shall be 

14 submitted electronically. 

15 ‘‘(iii) INFORMATION SHARING.—The 

16 Secretary of the Treasury or the Sec17 retary’s delegate shall share the informa18 tion in the report under clause (i) with the 

19 Secretary of Labor. 

20 ‘‘(iv) PENALTY.—Any failure to file 

21 the report required under clause (i) on or 

22 before the date described in such clause 

23 shall be treated as a failure to file a report 

24 required to be filed under section 6058(a) 

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1 cept that section 6652(e) of such Code 

2 shall be applied with respect to any such 

3 failure by substituting ‘$100’ for ‘$25’. 

4 The preceding sentence shall not apply if 

5 the Secretary of the Treasury or the Sec6 retary’s delegate determines that reason7 able diligence has been exercised by the 

8 trustees of such plan in attempting to 

9 timely file such report. 

10 ‘‘(G) 1974 UMWA PENSION PLAN DE11 FINED.—For purposes of this paragraph, the 

12 term ‘1974 UMWA Pension Plan’ has the 

13 meaning given the term in section 9701(a)(3) 

14 of the Internal Revenue Code of 1986, but 

15 without regard to the limitation on participation 

16 to individuals who retired in 1976 and there17 after.’’. 

18 (b) EFFECTIVE DATES.— 

19 (1) IN GENERAL.—The amendments made by 

20 this section shall apply to fiscal years beginning 

21 after September 30, 2016. 

22 (2) REPORTING REQUIREMENTS.—Section 

23 402(i)(4)(F) of the Surface Mining Control and Rec24 lamation Act of 1977 (30 U.S.C. 1232(i)(4)(F)), as 


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1 added by this section, shall apply to plan years be2 ginning after the date of the enactment of this Act. 

3 SEC. 3. REDUCTION IN MINIMUM AGE FOR ALLOWABLE IN4 SERVICE DISTRIBUTIONS. 

5 (a) IN GENERAL.—Section 401(a)(36) of the Internal 

6 Revenue Code of 1986 is amended by striking ‘‘age 62’’ 

and inserting ‘‘age 591 7 ⁄2’’. 

8 (b) APPLICATION TO GOVERNMENTAL SECTION

9 457(b) PLANS.—Clause (i) of section 457(d)(1)(A) of the 

10 Internal Revenue Code of 1986 is amended by inserting 

11 ‘‘(in the case of a plan maintained by an employer described in subsection (e)(1)(A), age 591 12 ⁄2)’’ before the 

13 comma at the end. 

14 (c) EFFECTIVE DATE.—The amendments made by 

15 this section shall apply to plan years beginning after De16 cember 31, 2017. 

Æ 


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