Q:

What are some retirement benefits through UMWA?

A:

Quick Answer

Retirement benefits through United Mine Workers of America include a pension plan and a health plan, reports UMWA Health and Retirement Funds. The amount of pension benefits miners receive varies depending on their work histories.

Continue Reading

Full Answer

The United Mine Workers of America provides service pensions for eligible mine workers who meet the qualifications for minimum years of mine work, explains UMWA Health and Retirement Funds. Eligible workers can begin receiving pensions after they turn 55. They should apply for pensions at least six months before their projected retirement dates to allow the office to gather needed information, including Social Security earnings statements. Once the UMWA Health and Retirement Funds approves pensions, it usually sends monthly benefit payments via direct deposit to pensioners' accounts.

Some retired miners may also qualify for health care assistance, although their employers and not the United Mine Workers of America usually administer health benefits, according to UMWA Health and Retirement Funds. United Mine Workers of America requires retired miners age 65 and over who receive health benefits to also be enrolled in Medicare Parts A and B. Only certain disabled and retired mine workers and their dependents are eligible for health benefits through the United Mine Workers of America.

Learn more about Financial Planning

Related Questions

Explore