IBM Memos Show Awareness of Pension Moves
Wall Street Journal (08/07/03) p.A3; Schultz, Ellen E.

Certain email memos from benefits consultants to IBM human-resources executives were exhibits in a recently decided court case, in which the judge ruled that IBM had discriminated against older workers in 1999 when it moved to a cash-balance plan. The emails describe how some of IBM's pension changes would possibly stop the benefits increases of thousands of employees for several years, and were used as evidence in a suit by older IBM workers, who said that the new plan gave them less favorable benefits. The Treasury Department is soon due to issue regulations on whether cash-balance plans violate age-discrimination rules.


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