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To: George W Daly, Jr. who wrote (4809)3/18/1999 10:35:00 AM
From: Ben Antanaitis  Respond to of 8218
 
Geez, and they've got two different retirement plans now. The old 'traditional' IBM pension plan and a new one where the employee's get 'credit points' each year they work. The switch is being phased in right now and the 'older' (I resemble that remark.) employees get benefits from whichever plan calculation gives them the largest pension check.

Ben A. (IBM Senior Scientist, retired)



To: George W Daly, Jr. who wrote (4809)3/18/1999 2:27:00 PM
From: Arrow Hd.  Read Replies (1) | Respond to of 8218
 
I read the journal article and your link nets out the basic story. The
pension fund is probably very over funded. If they get rid of it
then under ERISA guidelines they can probably pull out most of the
overfunding which would be a huge windfall. Look for it to be
finalized in the late fourth quarter.


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