If you are 55 and older and have the Sears Pension, you can get your money 100%. When your store close down, and you have used all of your severance. Pension will be paid out on the 1st of the month. You must call and get the paper work started. My store will close on the 26th of this month, and I am so happy to be done with Sears. I gave this company 18 years and so months. Thank you to everyone for your help. The store closing was hard, get ready to be busy, if your store will close in the near future.
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I plan to take my pension out, and move it to a IRA. Thanks for looking out for me.
@tnt, get some financial advice before you take a lump sum payout at your age. Even the person at your local bank can give some help on the basics. You want to make the best choice for you.
Are you looking for another job? Or do you have one. Curious because we are around the same age. Kind of old but not old either, if you know what I mean.
Way past retirement age!!
i am 56 and have retired from sears with 35 years. the store i work at will be closing soon will i be able to get lump sum of my pension. i have talked to sears and have gotten the run around.
Pulling out lump sums is just about the dumbest thing you can do financially. Roll it to a tax-deferred retirement plan and pull it out once you reach retirement age. You literally throw away around 40% of it right now, plus compounded earnings over time by pulling it out early.
When I pulled out my lump sums from other jobs, I tried to make sure the amounts didn't push me over the limits for ACA premium credits, and if they did, either timed the payoff to not effect it, or directly rolled the sum into an IRA CD , so I didn't take an immdite tax hit.
Thanks my pension is what I'm wondering about!!40 years, it not much but its mine!!