In Reply to: Trustee Powers Question posted by GrumpyGuts on 01 February 2006 at 19:17:41:
I'd like to know how much fight they put up. To allow a cap on pensions increases of 2.5% for 15 years seems weak. I wonder what assumption IBM has made on the inflation rate in the next 15 years. I would bet my pension that it is more than 2.5% (oops i've already done that).
: In Lamb's letterto members he said:
: "The Trustee has carefully considered the Company proposals, has taken legal and actuarial advice, has been instrumental in IBM reshaping and improving its proposals, and for the reasons set out below has agreed in principle to the changes IBM intends to make."
: My question is, if the Trustees had disagreed with the proposals then what would have happened next and what could the trustees have done about it?
: GG