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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (43947)	1/5/2006 9:56:33 PM
From: Sultan	Read Replies (1) of 116555

IBM announces changes to pension plans (IBM) 82.50 +0.55 : Co announces it has changed its US defined benefit pension plans and that it plans to redesign its 401k savings plan, effective in January 2008. The goal is to shift the future focus of retirement benefits toward the more predictable cost structure of a 401k plan and away from its legacy defined benefit pension equity and cash balance plans. The co will record a one-time pre-tax charge of $270 mln in Q4. Co expects the changes will result in worldwide retirement-related expense savings of $450-500 mln for 2006, and $2.5 to $3 bln for 2006 through 2010.

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