Losing your pension is part of the risk. If these people wanted a pension that wasn't going to disappear in a Bankruptcy they should have worked for a different employer. Jim Walter went bankrupt several times over decades. Anyone who works there should have known that. If not that's their fault for being a sheep.
People have to take responsibility for their own situation. My 401(k) ALL at risk under Joe Biden's dumbarse. Social Security never happens..... that's why I have a retirement plan or plans. That's why I save money and don't have all my eggs in a single basket.
The smart thing for the Union would have been to negotiate a higher wage and NO PENSION. Very simple. But they don't want to do that. They want to use the pension as some kind of carrot on a stick so that everyone thinks in terms of service not in terms of the quality of the work they are performing. Work 10 years and we've got a lifetime of checks headed your way. Sign right here and you can start tomorrow.
Everyone since the 1960's has known that's a bad deal from the employer's perspective and not a guarantee. What I am telling you is that the Unions are the ones at fault for demanding pensions in many of these situations. They should never have been implemented in the first place.
Coal mining? Risky as hell. Who doesn't know that either? Live in Brookwood and can't get another job? MOVE. That's what I did.
Both these groups are at fault don't feel sorry for either side.
No government employees were harmed in the making of this mess.
