Coal miners appeal to McConnell to back a rescue of their pensions
WASHINGTON -- He didn’t say no.
A contingent of retired coal miners that has long been pressing Senate Majority Leader Mitch McConnell to back a fix for their soon-to-be insolvent pension fund, said Wednesday it had a positive meeting with the Kentucky Republican.
“He didn’t make any promises,” said Phil Smith, director of government affairs for the United Mine Workers of America. “But I think he’s opening to doing something to solve these guys’ pensions.”
McConnell has sought a broader fix to ensure the health of the federally chartered Pension Benefit Guaranty Corp., which insures millions of Americans in defined benefits pension plans but is facing its own fiscal challenges. But Smith said the miners told him that a more sweeping fix “is going to take longer than we have.” Actuaries expect the miners’ fund — which was hammered by the economic downturn — to become insolvent by 2022.
“We gave him that message and we’ll see where we go,” Smith said, adding, “I think we’re going to get there.”
Read more: https://www.sunherald.com/news/politics-government/article230129654.html
(Gulfport Sun Herald)
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