26 U.S.C. § 9705 — Transfers

(a)(1) From money reserved under paragraph (2), the 1950 UMWA Pension Plan^* trustees must transfer to the Combined Fund^* $70,000,000 on February 1, 1993; $70,000,000 on October 1, 1993; and $70,000,000 on October 1, 1994.

(2) Immediately after the enactment date^*, the trustees must separate $210,000,000 from the plan’s general assets and hold it until those payments are made. Interest on it goes into the plan’s general assets.

(3) The February 1 payment must proportionately reduce each assigned operator’s section 9704(a) premium for the plan year beginning that day. Each later payment must proportionately reduce each assigned operator’s unassigned-beneficiary and death-benefit premiums for the transfer year and later years while the money remains available. The money may not pay amounts 1988 agreement operators must pay under section 9704(i)(1)(B).

(4)(A) No deduction is allowed for a transfer under paragraph (1). But the transfer may not harm the deductibility of employer contributions already made or later made to the listed UMWA plans or the Combined Fund^*.
(B) A transfer is not an employer reversion from a qualified plan for section 4980, and it is not included in the gross income of an employer maintaining the 1950 UMWA Pension Plan.

(5) A transfer is not considered to violate or be prohibited by any law, or to make the settlors, joint trustees, employers, or related persons liable for taxes, fines, penalties, or other liability.

(b)(1) The Combined Fund must include amounts transferred under sections 402(h) and (i) of the Surface Mining Control and Reclamation Act.
(2) Each such amount for a fiscal year^* must pay Combined Fund beneficiary benefits and administrative costs, or another purpose specifically provided in that Act.