Washington – A federal agency is preparing to take responsibility for Sears’ pension plans, which cover more than 90,000 people. The Pension Benefit Guaranty Corp. said in a new release Friday that it believes Hoffman Estates-based Sears Holdings Corp.’s “continuation of the plans is no longer possible” after the company filed for bankruptcy. The agency covers individuals’ pensions, up to certain limits, if an insured pension plan shuts down without enough money to pay all benefits.