Sears Holdings Corp. (fka SHLDQ)

[justthefactsmam]

according to sears and the pbgc, the maximum guaranteed pension benefit is $5,420.45 per month ($65,045.40 per year) for a worker who retires at age 65 with a single life annuity.

the maximum benefit will be reduced for an individual who begins receiving payments before age 65, and

the maximum benefit will also be reduced if a pension includes benefits for a survivor or other beneficiary.

while around 99% of those receiving benefits will not be impacted by sears termination of the plan and the pbgc taking them over.

pbgc does not guarantee:
benefits not vested when the plan terminates,
benefits if age, service, or other such requirements haven't been met,
increases and new benefits in place for less than one year,
early payments greater than those to be received at normal retirement age,
health insurance, life insurance, death benefits, vacation and severence,

pbgc generally does not pay lump sums exceeding $5,000
pbgc may recoup payments which exceed their guarantee

as usual, the upper tier, higher paid people will be more adversely impacted than mid to lower level employees.

doesn't seem like judge drain will have to deal with or be concerned about any severe impacts on pension issues.