Insurer says Lampert will stiff Sears’ pensioners

January 29, 2019

The Pension Benefit Guaranty Corp., the pension insurer of the U.S. government, claims that Eddie Lampert’s proposal to acquire Sears Holdings, doesn’t include $1.7 billion needed to continue funding the company’s pension for employees. The likely result is that the pension fund for workers will likely be wiped out.

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