Sears previously cut bonuses, eliminated stock-option grants to all but top executives, and ended guaranteed pensions and company-subsidized retiree medical coverage for younger workers.
Employees will get a 5 percent discount on stock purchases.
Many of Sears' 16,000 retirees fear if the company is allowed to stop making pension contribtions, they will receive reduced pensions.
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They also seek costs and punitive damages, making any potential victory a costly one for the company.
The plaintiff, Antoantea Vatraleva, has also asked the court judge for an injunction preventing Sears from continuing the practice in the future.