CHARLESTON, W.Va. (AP) — West Virginia's House of Delegates wants Patriot Coal to honors its promises to around 20,000 retired miners and dependents.
The House voted 93-4 for a non-binding measure Monday targeting that company as well as Peabody Coal and Arch Coal.
Patriot is in bankruptcy, and says its retiree health liability has ballooned to $1.6 billion. It has proposed funding around $300 million of those benefits through a trust.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.