Posted by Dave Mitchell on 29 October 2000 at 18:32:31:
In Reply to: E Plan posted by Dave McCormick on 29 October 2000 at 16:21:47:
The IBM Pension Fund is divided into two main sections. One, the Defined Benefits section, consists of ALL the pension plans that relate to final salary. The other, the Defined Contributions section, started in 1997 and is purely concerned with the M Plan. It's the Defined Benefits section which has a 'surplus' which IBM has used to subsidise the M plan. Since this is the main complaint currently being raised with the Ombudsman, members of ALL plans except the M plan are likely to be equally affected by his decision.