Jobs

COVID-19 pandemic puts squeeze on pension plans

Pensions and other retirement-benefit programs have struggled for years to figure out how to close the gap between the assets they have on hand and the cost of benefits they have promised to pay out in future decades.

JCPenney emerges from bankruptcy

In November, the U.S. Bankruptcy Court for the Southern District of Texas approved a purchase agreement in which substantially all of J.C. Penney’s retail and operating assets would be acquired by its two largest landlords and its primary lenders.