Let's hope not!!!
11 replies (most recent on top)
Not a pension buy out ... i have contacted the pension folks already and at this time they don't have enough funds to do a full pay out...
Im speaking of a company buy out like the ones from 2005 when they gave a lump some for you to leave the company and leave your pension behind
The pension was stopped in 2006 or 2008. I think a buyout is for 55 and older with 10 or 20 years of service. I am 55, my store closed down, I will be receiving my pension. I am in the Phase 2. I will received a total lump sum. The pension was sold to MetLife. The pension provider will let you know if your can get your pension.
Has anyone heard or have more info on the possibility of these buy-outs ??????
" I am 50 and have been with the company for 30 years, if the age is 55 I am screwed "
Not necessarily, most buyouts are a combination of age & service with some additional inducement to get to some specific total figure. in most cases its 55 - so if they tack on 5 yrs as an enticement you're good to go
@1kax. I think your figure of up to 6 times your salary is high. I too have probably a small pension. If they gave me half of that, it would be worthwhile to me to possibly try something new, but I am not close to 55 either. I think the pension was discontinued in the early 2000's if I am remembering correctly. Now as to the poster who said no one would want to buy us......I cant say for certain but I think you could be wrong with all the negative talk. A savvy company could capitalize on the low price they would probably have to pay to acquire us. There is more upside than you know.
If this is a pension buyout then the only ones eligible would be those who are going to get a pension. I believe they stopped the pension in the 90s or early 2000's. Could be wrong. If we are talking about a buyout of the company--- you are crazy--- no one would want a company so far in the hole as SHC. No money, massive debt, stores falling apart, lawsuits coming, pension obligations they can't pay and on and on.
I also have heard of the sears buyouts ... have not heard any exact details other than { up to 6 times your yearly salary } ... but your walking away from your job, benefits, and your pension, hope its worth it or you shouldn't take it , the choice is yours at the end of the day,...
my question is at what age can you receive the buyout as myself I am 50 and have been with the company for 30 years, if the age is 55 I am screwed and have to wait till the bitter end and watch Eddie completely destroy this company for his personal gain... this will be truly sad to watch
@1qzr. You have no idea what the person does for Sears.....he could be paid extremely well depending on his level.
My money are on 2018.... what money pumpkin poodle? you work for Sears...
Buyout of what? Sears Canada? I think we have at least one more holiday season. my $$ are on 2018