What is the day to day like? Is it codebase migration to newer stack? Adding features in Cobol? Documentation for the next generation of Cobol developers maybe

What is the day to day like? Is it codebase migration to newer stack? Adding features in Cobol? Documentation for the next generation of Cobol developers maybe? I think Cobol development/maintenance work should exclusively done by contractors/agencies as opposed to hiring employees. Contracting is perfect as older devs are more suited to work part time or as sub-contractors and banks don't need to have a greater responsibilty of an employee whose skillset is what they are trying to abolish.