IBM Draws Flak for Change to 401(k) Plan - Bloomberg: "International Business Machines Corp. (IBM), the largest computer-services provider, drew fire from a worker organization for a change to its 401(k) retirement plan that cuts the frequency of company contributions to once a year.
The company will switch from matching employee contributions to their 401(k) plans twice a month to every Dec. 15, a move that “shortchanges IBM employees,” Alliance@IBM said on its website. While the amount that employees receive isn’t changing, workers who leave or are fired before Dec. 15 won’t get their payment for the year."
'via Blog this'
The company will switch from matching employee contributions to their 401(k) plans twice a month to every Dec. 15, a move that “shortchanges IBM employees,” Alliance@IBM said on its website. While the amount that employees receive isn’t changing, workers who leave or are fired before Dec. 15 won’t get their payment for the year."
'via Blog this'
Posts
No comments:
Post a Comment