Monday, 20 May 2019
BREAKING NEWS

Sears ends retirees’ life insurance benefits – Chicago Tribune

Sears has ended life insurance benefits for eligible retirees, one of the final links to the days when the company promised generous benefits to take care of its workers.

The life insurance benefits were canceled March 15, though some retirees didn’t receive letters notifying them of the change until after that date, said Ron Olbrysh, chairman of the National Association of Retired Sears Employees.

It’s unclear how many Sears’ retirees will lose coverage, but the company paid about $16.6 million in premiums for eligible retirees for the year that ended Dec. 31, 2017, according to a report on benefits that Olbrysh said he and other retirees received.

A company attorney declined to comment.

Source: https://www.chicagotribune.com/business/ct-biz-sears-ends-life-insurance-benefits-20190326-story.html

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