ABSTRACT

Black Lung Benefits Program: Continued Inaction on Coal Operator Self- Insurance Increases Financial Risk to Trust Fund, Statement of Thomas Costa, Director, Education, Workforce, and Income Security, Testimony Before the Committee on Education and Labor, Subcommittee on Workforce Protections, House of Representatives   [open pdf - 283KB]

From the Highlights: "The Trust Fund, which pays benefits to coal miners disabled due to black lung, faces financial challenges. It has borrowed from the U.S. Treasury's general fund almost every year since 1979 to make needed expenditures. In February 2020, GAO [Government Accountability Office] found that DOL [Department of Labor]'s limited oversight of coal mine operator insurance exposed the Trust Fund to additional financial risk. This testimony is based on reports GAO issued in 2020 and 2018. GAO found in 2020 that in overseeing coal operator self-insurance DOL did not (1) estimate future benefit liability when setting the amount of collateral required to self-insure, (2) regularly review operators to assess whether the required amount of collateral should change, or (3) always take action to protect the Trust Fund by revoking an operator's ability to self-insure as appropriate."

Report Number:
GAO-22-105546
Author:
Publisher:
Date:
2021-12-02
Copyright:
Public Domain
Retrieved From:
Government Accountability Office: http://www.gao.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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