Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.
  • SheeEttin@lemmy.worldBanned
    391·
    2 years ago

    If the pensions were at risk due to the company’s bankruptcy, something has gone very wrong. Generally, pension funds are protected under ERISA.

    • Buelldozer@lemmy.world
      26·
      2 years ago

      Generally, pension funds are protected under ERISA.

      There’s a whole lot of Coal Miners who would argue that point.

      • Cosmic Cleric@lemmy.world
        51·
        2 years ago

        Were they not covered because of a technicality (for example being a contractor versus an employee), or did ERISA just fail to make them whole as they should have?