In Reply to: Re: Is IBM's US Pension Fund Underfunded? posted by Dick Reynolds on 09 July 2004 at 07:04:14:
Dick, why the link to the Companies House search engine? I missed the point of that.
On the subject of underfunding - worrying is of course prudent - but IBM is so ungenerous with increases that you may find that the current fund will last for a month or two yet.
And we can of course look forward to the unlikely event that some future ombudsman bites the bullet, does the right thing and finds that the C plan fund was a seperate descrete fund that shouldn't have been plundered to defray IBM's funding contributions to it's other pensions funds and might then be forced to put back in the pot what they took out. This may make their eyes water a bit - but at least the C plan fund is legislatively fastly becoming ring-fenced from the company's own propserity or not.