"What is wrong is the ridiculousness of keep using software that's so old it was invented when computers didn't have enough memory to hold the full date of the year and keep replacing the hardware while keeping using the same software.
Practicality the whole servers have been replaced by now, if anything remains of the old servers at all, and yet they keep using COBOL for them.
Hard disks start to fail at about ten years if not earlier, wires and fans don't last forever, there are also problems like the bios ending being so old it just dies even if you keep changing the battery
Buying cheap ends becoming expensive and replacing the whole servers with a version of Linux and up to date (By Debian stable standards) software would end saving the state a huge amount of money in the long run.
Yes, there are newer versions of COBOL but this is the COBOL that was used in the eighties,;even if you want to keep using COBOL you should at least update to the modern version so there will be people left alive that can use it when the Year 2038 problem strikes."
There are some absurd comments posted hereabouts, but this one is beyond ridiculous. Have you no clue whatsoever about managing computer systems? Even the Linux ones you seem to think are the answers to everyone's prayers?
Yes, hard disks fail. You apparently don't know that it is possible to move data from old disks to new ones, and even if the old ones fail before you do that, you restore from backups. Maybe you've heard of RAID? If not, maybe should learn about it. You'll no doubt be shocked to know that shops which run large COBOL systems actually perform regular scheduled backups in case of worst case disk system failure. And know how to restore from them.
Most systems which run COBOL at scale don't have BIOSes, but even if they did, BIOSes don't fail due to batteries. As for wires wearing out ... maybe the cheap eBay knock-offs you use for your 'phone, but not those used on business systems.
What the version of COBOL originally used has to do with it is entirely beyond me. COBOL programs compiled 40 years ago on IBM mainframes will still run today. Assuming the source code hasn't been lost (this is actually a genuine problem) it can be recompiled with the current compiler, usually with no changes.