Pensions Could Be Affected Due To Bankruptcy Filing

Washington, D.C. — Pension benefits for some retired coal miners and their beneficiaries could be decreased as early as next March with the Murray Energy Chapter 11 bankruptcy filing, that according to West Virginia U.S. Senator Joe Manchin. Manchin continues to call for Senate Majority Leader Mitch McConnell to take up his bill or any of the other bills dealing with the pension issue. Manchin said he’s been told McConnell recognized the new urgency. Murray Energy is the largest contributor to the pension fund. If the money goes away through bankruptcy, pension reductions will begin in a matter of months. According to Manchin, the average monthly payment of miner’s pensions combined is approximately $600. Even a slight reduction would impact older recipients. Manchin introduced a resolution earlier this week that would ensure workers are treated fairly in bankruptcy proceedings.