LOLOLOLOL see AIG.
Sent from Yahoo Mail for iPhone On Wednesday, September 14, 2022, 7:01 PM, Charles Mills <charl...@mcn.org> wrote: No, I would guess that the two insurance companies are on the hook, at least each for their 50% share, no matter how well or poorly their investments do. I would guess that their full faith and credit is on the line. Your insurance company never says "sorry 'bout your house burning down. We invested *your* premiums in Theranos. Is there anything else we can help you with?" True, there is no upside for the pensioners, but that is kind of the nature of a defined benefit plan. There is no up potential, and relatively little down potential. (Yes, everything comes with some risk.) Charles -----Original Message----- From: IBM Mainframe Discussion List [mailto:IBM-MAIN@LISTSERV.UA.EDU] On Behalf Of Bill Johnson Sent: Wednesday, September 14, 2022 2:51 PM To: IBM-MAIN@LISTSERV.UA.EDU Subject: Re: IBM pension 16 billion offloaded. No it isn’t just a financial thing. They transferred the money & liabilities to a firm that thinks it can turn a profit on the investment. The current IBM pension liability was over funded. (Over 100%) If the new pension fund owner invests in say Bitcoin and loses 2/3 like Bitcoin did over the past year, those pensions are at risk. There’s no upside risk to the pensioners, but there is downside risk. Sent from Yahoo Mail for iPhone On Wednesday, September 14, 2022, 5:01 PM, Charles Mills <charl...@mcn.org> wrote: It's purely a financial thing, right? Like if they had moved their checking account from Chase to Wells? Pensioners should not see any significant change. These are defined benefit plans: you get $X/month no matter who pays the bills or what the rate of return. Nor do they incur any significantly changed risk. IBM simply transferred their rate of return risk to someone who is in that business. Charles -----Original Message----- From: IBM Mainframe Discussion List [mailto:IBM-MAIN@LISTSERV.UA.EDU] On Behalf Of Bill Johnson Sent: Wednesday, September 14, 2022 1:16 PM To: IBM-MAIN@LISTSERV.UA.EDU Subject: IBM pension 16 billion offloaded. I’m shocked the IBM haters haven’t mentioned IBM’s announcement today regarding offloading 16 billion in pension liabilities. https://www.pionline.com/pension-risk-transfer/ibm-offloads-16-billion-pension-liabilities-annuity-purchases ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN
