Looks like they are reverting to a Defined Benefit scheme. I never received anything from IBM after my employment with them in the 70's.
The 401K contribution limits are too low to ensure a comfortable retirement. On Wed, Feb 14, 2024 at 5:38 AM zMan < 0000059081901144-dmarc-requ...@listserv.ua.edu> wrote: > "The company has stopped making contributions to 401(k) accounts, and > instead gives workers cash credits in a new version of its old pension > plan." > > https://www.nytimes.com/2024/02/09/business/ibm-pension-plan.html > (login required but surely will be elsewhere as well) > > IBM plays more financial engineering games. > -- > zMan -- "I've got a mainframe and I'm not afraid to use it" > > ---------------------------------------------------------------------- > For IBM-MAIN subscribe / signoff / archive access instructions, > send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN > -- Wayne V. Bickerdike ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN
