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IBM to scrap 401(k) matching, offer something else instead
The Register ^
| 11/02/2023
| Thomas Claburn
Posted on 11/02/2023 7:46:24 PM PDT by TrailWalker
IBM is set to shake up its retirement benefits in 2024 much to the alarm of at least some staff.
The IT giant on Wednesday informed its US workers that starting on January 1, 2024, the corporation will no longer match employee contributions to their 401(k) retirement plans. Instead, it will offer a new benefit called a Retirement Benefit Account (RBA).
(Excerpt) Read more at theregister.com ...
TOPICS: Business/Economy
KEYWORDS: 401k; bidendestroyseconomy; bidenomics; ibm; investment; retirement
Time to cross IBM off the list.
To: TrailWalker
... It would thus move from paying cash into workers' external 401(k) accounts to writing them an IOU. IOW, they'd rather owe it to you than cheat you out of it.
2
posted on
11/02/2023 7:51:21 PM PDT
by
glorgau
To: TrailWalker
They need to do this for government pension systems.
3
posted on
11/02/2023 7:58:49 PM PDT
by
rottndog
(What comes after America?)
To: TrailWalker
And when they go bankrupt?
To: TrailWalker
A company won’t spend untold millions revamping a benefits package if the intent was to pay you more. The intent is always to pay you less
5
posted on
11/02/2023 8:06:11 PM PDT
by
pissant
((Deport 'em all))
To: crusty old prospector
the employees would be screwed.
This is a horrible idea.
To: TrailWalker
Oh gee, another offshore CEO bringing that special offshore concern for employees to more of America.
7
posted on
11/02/2023 8:16:54 PM PDT
by
Dahoser
(I finally figured out what to call him: Fakephonyfraudident Biden.)
To: TrailWalker
Almost sounds like Social Security.
9
posted on
11/02/2023 8:44:58 PM PDT
by
curious7
To: pissant
A company won’t spend untold millions revamping a benefits package if the intent was to pay you more. The intent is always to pay you lessTruth
10
posted on
11/02/2023 9:20:33 PM PDT
by
zeugma
(Stop deluding yourself that America is still a free country.)
To: TrailWalker
Something else?
Enjoy your gold watch.
11
posted on
11/02/2023 11:58:14 PM PDT
by
jerod
(Nazi's were essentially Socialist in Hugo Boss uniforms... Get over it!)
To: curious7
Almost sounds like Social Security.That was my first thought, too.
12
posted on
11/03/2023 12:06:47 AM PDT
by
gitmo
To: jerod
Enjoy your gold watch. Are you kidding?
I retired from IBM in 2019, and a gold watch wasn't even a thought. Maybe for the bigwigs along with their golden parachute...
13
posted on
11/03/2023 1:25:18 AM PDT
by
grobdriver
(The CDC can KMA!)
To: TrailWalker
But, but, if you know how to “code”, go somewhere else. (Sarcasm).
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