Re: News on how we are doing

Posted by Alan Murphy on 16 November 2000 at 17:03:18:

In Reply to: Re: News on how we are doing posted by E.M.Ployee on 15 November 2000 at 12:27:21:

:It's not clear to me whether N plan members are also affected by this.
We are not sure either.

:Do you know whether the N plan pensions come out of the same fund?

That depends on what you mean by 'fund'. We are still trying to figure out exactly how IBM uses the words 'fund', 'plan', 'scheme' and 'section'. The N-plan is a different plan, but is in the same section - that is the 'Defined Benefit' section. As to the use of the word 'fund' - we know that each M-Plan person has an individual fund and the 'funds' (or the set of personal M-plan funds) are administered by the Trustee Investment Manager. When it comes to the C, N and E-Plan funds, it is more difficult to determine, as the Annual Report does not detail separate funds; it only shows the Defined Benefit section fund.

It would be good to know the how the C, E and N plan are supported by the the DB fund. Perhaps an N-Plan member would like to write to the Pesnsion Services Manager to inquire about this point and to clarify the situation.

:Are current N plan retiree's limited to the same discretionary increases as the C plan members?

I believe the N-Plan members have received the same yearly increases as C-Plan members and are treated equally as far as discretionary increases. However, I cannot guarantee this statement and it would be worth an N-Plan member asking IBM about this.