We have received several questions regarding the status of LMCI grants once the Fund is officially terminated. With the official termination of LMCI on Dec. 13, 2018, the fund will no longer be able to accept employer contributions. However, at this time, it will continue to operate per the existing trust document utilizing its nearly $12 million in reserves.
Regardless of the continued operations of the LMCI, the fund is required by the current Agreement and Declaration of Trust to pay all obligations which would include all approved grants. At the LMCI Board of Trustees meeting on Wednesday, Nov. 14, the trustees agreed to approve all submitted grants that were in compliance with the requirements of the LMCI Grant Guidelines.
If you have an ongoing grant or you have submitted a grant prior to Nove. 13, 2018 that meets the grant guidelines, the LMCI will pay the grant as agreed.
As always, please let us know if you have any questions.