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International Business Machines Corporation Message Board

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  • louscashcow louscashcow Dec 14, 2012 10:21 AM Flag

    IBM latest pension cut hits older employees hardest.....again.

    Not true. When IBM changed from defined to cash, some employees chose to stay with the defined with no further contributions with a company enhanced contribution to the 401k. This change means that enhancement will lose the benefit of growth for an entire year. That is a pension cut. Bottom line, if IBM wasn't saving money, they would not do it.

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