Posted by John on 26 July 2001 at 18:36:48:
In Reply to: A Plan posted by A Planner on 17 July 2001 at 06:25:47:
Why don't you write an email to David Newman and ask him to explain.....In my situation this means a loss of 16% of the the total fund accumulated (see your last statement). It will only be less than this if your nonguaranteed bonuses are actually less than 16% of the total to date.
: I'm now totally confused about how contributions to the A Plan will be effected by the 16% reduction.
: As I understood it the A Plan was a guaranteed annuity. Does this mean that as well as the 15% reduction if you leave (now reduced to 7.5%) all policies suffer a reduction of 16% on the total fund - or is it just the terminal bonus that's reduced? Also, if the A Plan is a guaranteed annuity does this then mean that we're about to hear an offer of Equitable to buy those rights?
: I know that this is primarily a C Plan site - but does anyone have a copy of the A Plan description please?
: Shame IBM Pensions department doesn't write to members and explain?!