Summary
BOSTON -- IBM's freeze of its otherwise healthy U.S. pension plan will reverberate through industry not only because it illustrates the erosion of traditional benefit packages, but also because it sharpens the focus on 401(k) plans as a source of retirement security.
With the 401(k) increasingly becoming a de facto pension for many American workers, several experts suggest reforms are in order.See the full content of this document
Extract
Imb's Freeze Signals 401 K Problems
International Business Machines Corp.'s announcement this week drew attention because the security of the technology giant's $48 billion U.S. pen...
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