MCF Insights: Bankruptcies, Pensions, & the Dodo Bird
When a company announces bankruptcy, employees usually lose their jobs and benefits. But what happens to former employees who were promised pensions or other benefits? Well, a federal judge just ruled that the Westmoreland Coal Company – one of the largest coal companies in the country – could end the health benefits for its former miners and families.1 And the decision has many retirees worried about their own health care and pensions. And rightly so.
