Sorry but this makes me sad started in 77 and the goal was to satisfy the customer (not members) and felt good when their problem was resolved! Now its all about metrics ,wheather they are true or not!!!
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I have been with Sears for over 18 years, and yes I am entitled to my pension, and it is very small, but least it is some money that I can go shopping or buy some new windows for my house. I will take a lump sum, not big, but at least it is some money. Merry Christmas
I was there to witness the same process. Somewhere along the line there was a shift from customer service to customer exploitation. From then on, all that mattered was making the "metrics" starting with the service agreements. I bailed out long ago, in part because I couldn't stand the obsession with pushing these overpriced contracts on customers. I feel for the employees caught up in this mess, but the retail world will be better off after this corrupt company is finally put to rest.
The Sears pension fund is protected by the PBGC and individual pension payments are guaranteed up to $60,136 per year. I doubt that many Sears/Kmart associates are due more than that in a year!
https://en.wikipedia.org/wiki/Pension_Benefit_Guaranty_Corporation
We're Sorry about your pension's future solvency.