In May 2019, former Sears Holdings chairman and CEO Eddie Lampert, months after purchasing the remains of Sears from the holding company, threatened not to pay out the $43 million in pension payments owed to 90,000 former Sears and Kmart employees and retirees. A "Forbes" editorial pointed out that Steven Mnuchin, Secretary of the Treasury, was a board member of Sears Holding until 2016, and is presently one of three directors of the Pension Benefit Guaranty Corporation, which manages administration of pensions for defunct or bankrupt businesses.