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Strategies & Market Trends : Value Investing

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To: E_K_S who wrote (50773)	2/4/2013 11:53:52 AM
From: John Koligman	2 Recommendations Read Replies (1) of 78462

Just as a point of information on these defined benefit plans, I can tell you that IBM had them but switched in the early 1980's to a 401k offering. My wife started as a chip engineer with IBM in 1979 and I started in 1980 as a software engineer, and it only took five years of employment back then to be vested. The plan we have also includes a 'survivor benefit' where if one recipient dies, the other continues to receive around 75% of the decedent's pension benefit for life, in addition to his/her benefit. They also allowed you to start collecting at age 55... It wasn't a big deal for us back then, but when I look at the benefits we are owed now, and how much we would have to have in the bank to match them as an annuity for life, it's a eye opener.... Best regards, John PS - I took a look at that article Clownbuck posted and noticed that IBM had the highest absolute pension obligation among the firms listed, at 83 billion dollars...

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