Page:United States Statutes at Large Volume 106 Part 4.djvu/310

 106 STAT. 3046 PUBLIC LAW 102-486—OCT. 24, 1992 "(iv) PLAN YEARS.— Premiums under subsection (a) shall be reduced for the first plan ^ear for which amounts described in clause (i) or (ii) are available and for any succeeding plan year until such amounts are exhausted. "(E) ALLOCATIONS OF CONTRIBUTIONS AND REFUNDS.— Contributions under subparagraphs (A) and (B), and premium reductions under subparagraph (D)(ii), shall be made ratably on the basis of aggregate contributions made by such operators under the applicable 1988 coal wage agreements as of January 31, 1993. "(2) 1ST PLAN YEAR.—In the case of the plan year of the Combined Fund beginning February 1, 1993— "(A) the premiums under subsections (a)(1) and (a)(3) shall be 67 percent of such premiums without regard to this paragraph, and (B) the premiums under subsection (a) shall be paid as provided in subsection (g). "(3) STARTUP COSTS. —The 1950 UMWA Benefit Plan and the 1974 UMWA Benefit Plan shall pay the costs of the Combined Fund incurred before February 1, 1993. For purposes of this section, such costs shall be treated as administrative expenses incurred for the plan year beginning February 1, 1993. •SEC. 9705. TRANSFERS. "(a) TRANSFER OF ASSETS FROM 1950 UMWA PENSION PLAN. — "(1) IN GENERAL.—From the funds reserved under paragraph (2), the board of trustees of the 1950 UMWA Pension Plan shall transfer to the Combined Fund— "(A) $70,000,000 on February 1, 1993, "(B) $70,000,000 on October 1, 1993, and "(C) $70,000,000 on October 1, 1994. "(2) RESERVATION.—Immediately upon the enactment date, the board of trustees of the 1950 UMWA Pension Plan shall segregate $210,000,000 from the general assets of the plan. Such funds shall be held in the plan until disbursed pursuant to paragraph (1). Any interest on such funds shall be deposited into the general assets of the 1950 UMWA Pension Plan. "(3) USE OF FUNDS.—Amounts transferred to the Combined Fund under paragraph (1) shall— "(A) in the case of the transfer on February 1, 1993, be used to proportionately reduce the premium of each assigned operator under section 9704(a) for the plan year of the Fund beginning February 1, 1993, and "(B) in the case of any other such transfer, be used to proportionately reduce the unassigned beneficiary premium under section 9704(a)(3) and the death benefit premium under section 9704(a)(2) of each assigned operator for the plan year in which transferred and for any subsequent plan year in which such fluids remain available. Such fUnds may not be used to pay any amounts required to be paid by the 1988 agreement operators under section 9704(i)(l)(B). "(4) TAX TREATMENT; VALIDITY OF TRANSFER. — "(A) No DEDUCTION.— No deduction shall be allowed under this title with respect to any transfer pursuant to

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