Posted by Chas Tyler on 18 December 2000 at 07:00:23:
In Reply to: Who owns the fund? posted by Brian Thubron on 16 December 2000 at 12:00:08:
You have a valid point Brian. However I would add the following comments.
1) When IBM (in the past) added extra money above the norm to the fund to cover pensions increases due to inflation etc. it could be argued that this extra belongs to IBM.
2) When a number of us took packages in the early 90's, as part of our separation deal additional payments were made to the 'C' Plan to improve our pensions. I assume that logically this extra would belong to the members and not IBM.
3) When in the distant future we are all 'dust' and money remains in the fund who does it belong to? I assume IBM as our dependants (excluding spouses) are not entitled.