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IBM Just Flipped the Script: Are Companies Now Going to Bring Back Pensions?

By Scott Wooldridge

IBM's recent announcement that it is switching to a "hybrid" model of defined-benefit plan could make the case that bringing back a modern take on the classic retirement benefit could support retention in a tight labor market.

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News

PBGC's Report Shows Surplus: Should Plan Premiums Be Lowered?

Analysis

IBM to End 401(k) Match, Offer a 'Hybrid Pension'

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Retirement & Benefits Stories

October 13, 2023

General Electric will pay $61 Million in 'Largest Ever' 401(k) Mismanagement Suit

After 6 years of litigation, GE will settle the lawsuit—the largest-ever ERISA case alleging retirement plan mismanagement—which claimed underperforming funds were the only actively managed options available to participants.

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October 09, 2023

Old Dominion Freight Gets Sued (Again) by Employees over Its 401(k) Plan

Just weeks after a federal judge dismissed an ERISA lawsuit against the company over allegations of excessive fees, employees are claiming the 401(k) plan offered funds that performed worse than alternatives.

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September 27, 2023

House Lawmakers Slam DOL: Years-Long Investigations Burden 401(k) Plan Sponsors

"Prolonged investigations" create "tremendous strain on retirement plan sponsors" and negatively impact retirement savers, wrote House Republicans in a letter sent to Acting Secretary of Labor Julie Su.

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September 05, 2023

American Airlines Pilot Sues Employer Over ESG Funds in 401(k) Plan

In a class action lawsuit, the former employee alleges that 37% of his retirement savings were invested in BlackRock's Target Date 2045 fund, which uses ESG considerations.

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September 01, 2023

Employers Expect a 7% Hike in Healthcare Costs in 2024

One notable change from last year is increased utilization because of delayed preventive or elective care during the pandemic, which declined from 12% to 4%.

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August 29, 2023

Two-Year Delay! IRS Extends Looming SECURE 2.0 Catch-up Contribution Deadline

After a lot of pushback from employers and retirement industry organizations on a key SECURE 2.0 catch-up contribution change for higher-income employees, the IRS announced an "administrative transition period."

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July 14, 2023

Twitter Hit with ERISA Lawsuit for Failure to Pay Severance

The lawsuit was brought by a former employee, who oversaw Twitter's benefits program, on behalf of thousands of employees who were laid off after Elon Musk acquired the company late last year.

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