Posted by Derek Wright on 04 January 2001 at 11:54:53:
In Reply to: IBM's success at fund pricing for the A Plan 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.
I think that retirees that did not take the money from their A and T plan savings are not impacted by the Equitable problems as the money is taken from Equitable life at retirement and placed in the "IBM Pension Fund" where of course it is available for IBM to use it sees fit - this is of course where we are disagreeing with IBM
: We were originally 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.