Law Offices of Gary Martin Hays & Associates
P.C.
75 Ponce De Leon Ave NE Ste 101
Atlanta,
GA 30308(470) 294-1674
www.garymartinhays.com
As of next year, IBM will exclude new workers from its contested cash-balance pension plan and offer them only a 401(k) savings plan. The decision comes 10 months after a federal judge ruled IBM's cash-balance pension plan discriminated against older workers because it cut their expected pensions. The company has said it will appeal, but in the meantime has agreed to a settlement with some of the workers who sued. The settlement, which is capped at $1.4 billion, is awaiting court approval.
December 10, 2004 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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