From: To: [email protected] Subject: Fwd: FW: (BNA) Sears Pension Plan Gains Protection Under PBGC Pact Date: Wed, 09 Sep 2015 17:57:03 +0000 From: To: Sent: 9/9/2015 1:41:53 P.M. Eastern Daylight Time Subj: FW: (BNA) Sears Pension Plan Gains Protection Under PBGC Pact Sears news story.... Bob Haviland Toll Free Direct Mobile Sears Pension Plan Gains Protection Under PBGC Pact 2015-09-08 17:00:53.596 GMT Sears Pension Plan Gains Protection Under PBGC Pact By David B. Brandolph Sept. 8 (BNA) -An agreement between the Pension Benefit Guaranty Corporation and Sears Holdings Corp. will create potential liens in favor of the PBGC on property held by Sears' subsidiaries to protect Sears' pension plan participants in the event of the company's failure to make required plan contributions, the PBGC announced Sept. 4. The agreement requires Sears to protect the assets of several special purpose subsidiaries that hold real estate and/or intellectual property assets, the agency said in a news release. The subsidiaries will grant liens on the protected assets on behalf of the PBGC that will be triggered if Sears fails to make required plan contributions or makes prohibited transfers of ownership interests in the subsidiaries. The liens will also be triggered if Sears terminates the plan or if the company or certain subsidiaries enter into bankruptcy, the PBGC said. In addition to providing protection to the PBGC's termination insurance program, the agency said the agreement provides protection to the plan's 200,000 participants. Copyright © 2015, The Bureau of National Affairs, Inc. Reproduction or redistribution, in whole or in part, and in any form, without express written permission, is prohibited except as permitted by the BNA Copyright Policy. http://www.bna.com/corp/index.html Robert W. Baird & Co. Incorporated does not accept buy, sell or other transaction orders by e-mail, or any instructions by e- mail that require a signature. This e