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A Sears bankruptcy could cause one of the biggest pension defaults ever, but the government would protect 90,000 retirees

Chicago Tribune
A Sears bankruptcy could cause one of the biggest pension defaults ever, but the government would protect 90,000 retirees

If Sears, once the nation's largest retailer, declares bankruptcy, it could cause one of the biggest pension defaults in U.S. history, but the government would step in to keep checks coming to more than 90,000 retirees. The company's long-term pension obligations, which have been underfunded