Posted by Roger Burtenshaw on 22 September 2000 at 20:23:59:
In Reply to: Pensions Letter to Lou Gerstner and UK HR Reply posted by terry critchley on September 21, 2000 at 14:36:38:
Paul Rogers reply ignores the fact that a fund, that we all contributed 4% to for all our IBM years, has been robbed to provide benefits to totally different population.
Although the company can claim to bear the final investment risk, in a normal year employee contributions are about 40% of all new contributions. Whilst for the last few years employee contributions have been 100% of all new contributions.
The current company contribution holiday is not the first holiday, I don't ever remember an employee contribution holiday.