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Sears to contribute $203 million to domestic pension plan

Hoffman Estates, Ill. -- Sears Holdings disclosed in a regulatory filing that "because we believe that the company has substantial liquidity and financial flexibility," the company has elected to contribute an additional $203 million to its domestic pension plan on Sept. 14, after which the plan will be 80% funded under applicable law.

Sears said that will enable the plan to offer lump-sum settlements to a portion of the domestic plan's participants. Sears said that it now estimates that the required contributions to the plan for 2013 will be approximately $350 million.

 

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