30. The Trustee's then secretary prepared a briefing paper for consideration by a meeting of the TMC which was to be held on 12 December 1996. The briefing paper put forward the Principal Employer's proposals and explained that IBM needed to stabilize its pension costs and provide what it considered to be a more valued and easily understood form of pension to its future workforce, which might not be expected to stay with IBM for such long periods. The Principal Employer therefore proposed introducing a new dc section to be operated under the existing trust together with the db sections. The trust documents would need to be updated for this purpose.

Two "sections" under one trust does not imply that the funds have to be mingled.