Senator Joe Manchin

@Sen_JoeManchin ↗

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Last Checked Dec. 24, 2019

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Tue Nov 05 21:17:48 +0000 2019

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Senator Joe Manchin @Sen_JoeManchin

After filing bankruptcy in 2018, Sears no longer possessed enough assets to pay off its creditors, esp. its pension obligations. Now those pensions are in the hands of the Pension Benefit Guaranty Corp (PBGC), which is Sears’ largest unsecured creditors, which is owed $1.5B+ — PolitiTweet.org

Posted Nov. 5, 2019

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Senator Joe Manchin @Sen_JoeManchin

Murray Energy has contributed 97% of the money going into the UMWA pension fund annually. With Murray’s bankruptcy filing, the UMWA pension fund will become insolvent even faster, and this crisis will snowball and impact every other multi-employer pension fund in America. — PolitiTweet.org

Posted Nov. 5, 2019

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Senator Joe Manchin @Sen_JoeManchin

At the end of Friendly Ice Cream's bankruptcy, most of Friendly’s assets were owned by a Sun Capital affiliate free & clear of any pension claims. Those unfunded pension obligations totaled $115M and are being assumed by the PBGC. — PolitiTweet.org

Posted Nov. 5, 2019