Union, Coal Companies Settle on Benefits

Retired coal miners say they are pleased with the settlement reached with Peabody Energy to have their healthcare benefits covered.

Those benefits had been cut when Peabody spun off responsibility for covering them to Patriot Coal, and then Patriot declared bankruptcy.

Peabody and Patriot will contribute $400 million to a Voluntary Employee Beneficiary Association, which will pay out the benefits.

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