Posted by Derek Wright on 23 November 2000 at 10:24:40:
In Reply to: Re: Pensions Victory for Barclays - The Times 22 November 2000 posted by Alan Murphy on 22 November 2000 at 20:35:14:
Since the introduction of the contribution holiday for the company, the C Plan
fund is increasingly becoming an employee only contribution fund.
The other input of money into the fund being the input of AVC contributions
when the employee retires.
All current employees in the C Plan should remember that they have incurred an
approximate 10% pay cut in their total compensation package as IBM no longer
deems it necessary to contribute to their pension.