SHLD » Topics » Retirement Savings Plans

This excerpt taken from the SHLD 10-K filed Mar 12, 2010.

Retirement Savings Plans

We sponsor Sears and Kmart 401(k) retirement savings plans for employees meeting service eligibility requirements. Prior to fiscal 2009, we matched a portion of employee contributions made to the plans. The Company announced during fiscal 2008 that it would suspend matching contributions on employee deferrals to 401(k) plans with respect to eligible compensation earned for payroll periods that end after January 31, 2009. Total expense related to the Retirement Savings Plans was $84 million and $91 million in fiscal 2008 and 2007, respectively.

Effective July 1, 2008, the Sears Canada defined pension plan was amended and a defined contribution component was added. The defined benefit service accrual ceased and all plan members earn pensionable service under the defined contribution component of the Sears Registered Retirement Plan. The defined contribution expense was $13 million during each of fiscal 2009 and fiscal 2008.

These excerpts taken from the SHLD 10-K filed Mar 17, 2009.

Retirement Savings Plans

We sponsor Sears and Kmart 401(k) retirement savings plans for employees meeting service eligibility requirements. We match a portion of employee contributions made to the plans. Total expense related to the Retirement Savings Plans was $84 million, $91 million, and $96 million in fiscal 2008, fiscal 2007 and fiscal 2006, respectively. The Company announced during fiscal 2008 that it would suspend matching contributions on employee deferrals to 401(k) plans with respect to eligible compensation earned for payroll periods that end after January 31, 2009.

Effective July 1, 2008, the Sears Canada defined pension plan was amended and a defined contribution component was added. The defined benefit service accrual ceased and all plan members earn pensionable service under the defined contribution component of the Sears Registered Retirement Plan. The defined contribution expense was $13 million for fiscal 2008.

Retirement Savings Plans

FACE="Times New Roman" SIZE="2">We sponsor Sears and Kmart 401(k) retirement savings plans for employees meeting service eligibility requirements. We match a portion of employee contributions made to the plans. Total expense related to the
Retirement Savings Plans was $84 million, $91 million, and $96 million in fiscal 2008, fiscal 2007 and fiscal 2006, respectively. The Company announced during fiscal 2008 that it would suspend matching contributions on employee deferrals to 401(k)
plans with respect to eligible compensation earned for payroll periods that end after January 31, 2009.

Effective July 1, 2008,
the Sears Canada defined pension plan was amended and a defined contribution component was added. The defined benefit service accrual ceased and all plan members earn pensionable service under the defined contribution component of the Sears
Registered Retirement Plan. The defined contribution expense was $13 million for fiscal 2008.

These excerpts taken from the SHLD 10-K filed Mar 26, 2008.

Retirement Savings Plans

We sponsor Sears and Kmart 401(k) retirement savings plans for employees meeting certain service eligibility requirements. We match a portion of employee contributions made to the plans. Total expense related to the Retirement Savings Plans was $91 million, $96 million, and $83 million in fiscal 2007, fiscal 2006 and fiscal 2005, respectively.

Retirement Savings Plans

FACE="Times New Roman" SIZE="2">We sponsor Sears and Kmart 401(k) retirement savings plans for employees meeting certain service eligibility requirements. We match a portion of employee contributions made to the plans. Total expense related to the
Retirement Savings Plans was $91 million, $96 million, and $83 million in fiscal 2007, fiscal 2006 and fiscal 2005, respectively.

This excerpt taken from the SHLD 10-K filed Mar 28, 2007.

Retirement Savings Plans

The Company sponsors Sears and Kmart 401(k) retirement savings plans for employees meeting certain minimum age and service requirements. The Company matches a portion of employee contributions made to the plans. Total expense related to the Retirement Savings Plans was $96 million, $83 million and $19 million in fiscal 2006, fiscal 2005 and fiscal 2004, respectively.

This excerpt taken from the SHLD 10-K filed Mar 17, 2006.

Retirement Savings Plans

        The Company sponsors Sears and Kmart 401(k) retirement savings plans for employees meeting certain minimum age and service requirements. The Company matches a portion of employee contributions made to the plans. Total expense related to the Retirement Savings Plans was $83 million in fiscal year 2005, $19 million in fiscal year 2004, $9 million for the 39 weeks ended January 28, 2004, and $8 million for the 13 weeks ended April 30, 2003.

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This excerpt taken from the SHLD 10-K filed Mar 15, 2006.

Retirement Savings Plans

        The Company sponsors Sears and Kmart 401(k) retirement savings plans for employees meeting certain minimum age and service requirements. The Company matches a portion of employee contributions made to the plans. Total expense related to the Retirement Savings Plans was $83 million in fiscal year 2005, $19 million in fiscal year 2004, $9 million for the 39 weeks ended January 28, 2004, and $8 million for the 13 weeks ended April 30, 2003.

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