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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: chic_hearne who wrote (72686)2/27/2001 9:02:17 PM
From: KyrosL  Read Replies (2) of 436258
 
Chic, IBM's pension plan is in very good shape. In fact it's overfunded at present -- in other words IBM does not have to contribute to it, because the plan has more than enough money to fulfill its obligations to current retirees. My hunch is that it's fairly conservatively invested, but I don't really know. The recent changeover from defined benefits to cash balance helps reduce IBM's future contributions to the plan and is also good for people that don't intend to spend their lives working at IBM. Note that any investment gains in the pension plan over and above the level required to fund current obligations are being reported as income in IBM's income statement -- one of Earlie's complaints about IBM's financial reporting. But everybody is doing it, and some (GE comes to mind) are actually a lot worse than IBM.
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