I am an ex employee that worked for IBM for over 30 years. Will my IBM pension be affected with the detachment?
4 replies (most recent on top)
How can anyone answer that question until something officially comes out? I'm sure there will be plenty of SURPRISES ahead!!! They'll tell us when they are ready!!
No, no change, no risk associated with the spin-off.
As it stands today NO you will not be impacted The pension is froze, but overfunded so IBM is allowed to sell the obligation off to someone else, and pocket the overfunding. GM did this years ago and fidelity or prudential picked up the obligation. Current law states that IBM must honor all obligations unless they go into receivership. If your business friendly reps and senators in DC decide to make it easier for IBM to skip town, then all bets are off. Currently most Businesses do not want to be in the pension business, thus they sell their obligation to deleverage
Like most companies, IBM may be right behind them on eliminating their Pensions.