Sears contributes $270 million to pension fund

Sears Holding Corp., Hoffman Estates, Ill., contributed $270 million to its pension plan in the quarter ended Oct. 29, according to its earnings statement. Chris Graftley, a Sears spokesman, declined to provide a current figure for Sears' pension plan. Pensions & Investments estimates that the retailer's U.S. pension funds totaled $4.3 billion as of Sept. 30. Sears will freeze its pension plan on Dec. 31, according to its third quarter 10-Q filing with the SEC. In connection with freezing the pension plan, fund officials revised the target asset allocation to 42.5% equity, 42.5% fixed income and 15% alternatives, from 70% equity and 30% fixed income, according to the filing.