"The company has stopped making contributions to 401(k) accounts, and
instead gives workers cash credits in a new version of its old pension
plan."

https://www.nytimes.com/2024/02/09/business/ibm-pension-plan.html
(login required but surely will be elsewhere as well)

IBM plays more financial engineering games.
-- 
zMan -- "I've got a mainframe and I'm not afraid to use it"

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