IBM Message Board - Msg: 11284572

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : IBM

IBM 300.87

+0.1%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: J R KARY who wrote (5552)	9/17/1999 3:16:00 PM
From: J R KARY	Read Replies (2) of 8218

One small step for mankind , IBM improves its pension conversion offer Like the Godfather's it was a offer hard to refuse but as Samuel Gompers opined "ya never know": ===== "The new so-called ''cash-balance'' plan allowed employees to take accumulated benefits with them if they left the company. IBM allowed 30,000 IBM employees within five years of retiring to choose the new plan or keep the prior annuity scheme that delivered greater benefits late in an employee's career. The pension plan changes met vocal resistance from mid-career employees, especially in the 40- to 50-year age category, some of whom calculated that they potentially stood to loose tens of thousands of dollars in future benefits under the new program. Web sites and online chat-groups were formed to protest the move and union-organizing talk picked up among employees at IBM facilities in Vermont and North Carolina. Friday's letter gave 35,000 additional IBM employees the choice to keep the old annuity plan out of the 140,000 U.S. employees eligible for coverage of any kind." dailynews.yahoo.com ==== To help , I'll give up on the boat , along with the 2nd Golden Circle I won (in a row) which was "refigured" after year-end , to give the "unsure" IBM employees some retirement security . The stock "ain't no good" without happy employees . Jim K

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next