Ive seen press statements claiming IBMs pension plan is underfunded by as much as $7 billion. Should I be concerned?
Someone pulled the $7 billion underfunding number from the 2004 annual report by looking at IBMs worldwide pension obligations. IBMs US pension obligations are covered in a separate trust fund which was fully funded as of December 31, 2004. IBM is required to file a detailed report with the US Department of Labor each year by October 31. This report is called a form 5500 and lists all of the investments held in the pension trust fund, as well as all of the current and future obligations that could be charged against that trust fund. All retirees and employees are allowed to request one free copy of that report each year. Requests for the report can be sent to: IBM Pension Administrator, IBM Employee Services Center, 3808 Six Forks Road, Raleigh, NC 27609. Be sure to state that you are asking as a plan participant, include your IBM employee number, and tell them what date of the report you are requesting.
Related Questions
- Provisional Statements Q: What happens as far as provisional statements are concerned (ie what we currently call provisional licences)? What is the associated fee?
- Ive seen press statements claiming IBMs pension plan is underfunded by as much as $7 billion. Should I be concerned?
- Every year the press print articles claiming that GCSEs and A levels are being ‘dumbed down’; what are the facts?
