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View Diary: Open thread for night owls: Coal companies rip off miners' pensions (111 comments)

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  •  Just to be clear, the bigger issue in the mining (11+ / 0-)

    ... case is retiree health, not their pensions. The reason Peabody spun them off to Patriot was to get out of the retiree health obligation. The pensions were guaranteed.

    But you know what the average pension is for a retired miner? About $30,000.  That's it.

    Here's why the gutting of retiree health hurts. A retired miner's average annual health care coverage expense will go from about $1,200 to $6,000. On a $30k pension.

    That's right. But the execs, including the bullshit artists at the phony spin-off, all are getting their massive payouts, post-bankruptcy.

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