Post by
SCVALINVESTOR on Jan 07, 2022 1:29pm
Pension liabilities
I wouldn't lose too much sleep over fixing the pension liabilities - the plan wasn't for the liitle people on the sales floor. It was a SERP - a Senior Exceutive Retirement Plan. That's why it didn't need to be fully-funded in the first palce. Presumably the major beneficiaries were the people who took Ret.a into CCAA in the first place.
Comment by
savyinvestor333 on Jan 07, 2022 1:36pm
I'm sure that liabilities to that plan must have ended with CCAA. I don't see anything stating a liability for unfunded pensions
Comment by
SCVALINVESTOR on Jan 07, 2022 2:26pm
Correct, they got 50 cents on the dollar like all the other creditors and no more is owed. The senior execs can start up a new plan, I suppose, but there is no ongoing liability for this plan.