Posted by Roger Burtenshaw on 04 January 2001 at 10:47:53:
It would seem that IBM has a 100% success rate at picking duff investment funds for the A (& T) Plans.
We were origionally invested in UK Provident, which had to be rescued, with (I assume) some loss of investment value on the transfer to Equitable Life.
Now Equitable has effectively gone 'belly up', which will cost current A & T plan members dearly (and I assume T Plan retirees and A Plan retirees who didn't take the cash).
Is is further evidence of failure by IBM, the IBM Pension Trust and by the Trustees?
The more we understand, the more mismanagement we uncover.