how is 70 points determined? There is nobody left that knows in our store. This is Kmart. Does anybody know?
6 replies (most recent on top)
Reply to "At 60 years old I need info on retirement. I've been there (Kmart) for 16 years". Call the Sears Holdings Benefits Center through 1-888-88sears. They can help you. Every time I have called I actually got someone that could speak and understand English.
Ok, that is what I thought. I do thank you for answering. I think I will just slide on in to the shore from here. I make less than $1 an hour more than new hires. Kmart will get what SHC is paying us for likewise. That is what we are worth to them, that is what they get.
I really thank you, I am not eliglible for anything, best I can figure. But, I do watch utube videos of things that make me feel good about life- like andy Griffith or the waltons.
Thanks for answering
Oh dear!! Really old like from the 90's!! Try late 70's
Sears Holdings Pension Plan was created from the merger of the Kmart Corporation Employee Pension Plan (frozen January 31, 1996) and the Sears Pension Plan (frozen December 31, 2005).
On January 30, 2008, the Kmart Corporation Employee Pension Plan and the Sears Pension Plan were merged to create the Sears Holdings Pension Plan. Each plan was frozen prior to the merger: the Kmart Corporation Employee Pension Plan on January 31, 1996, and the Sears Pension Plan on December 31, 2005.
For the purposes of vesting and eligibility for early retirement and certain forms of payment, active associates continue to earn service if they were participants in either plan as of the date each plan froze. Service after the date each plan froze is not recognized for pension benefit accumulation. Associates who were participating in the Kmart Corporation Employee Pension Plan as of the date the plan froze also continue to earn points toward reaching their “90 points.”
i didn't think Sears/kmart had a retirement plan. I think they stopped that years ago. I could be wrong but the only people who I hear talk about the retirement/pension plan are the really old timers who were here since the 90's. I would just get a retirement planner and let them give you some options.