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I.B.M. EMPLOYEES GET $320 MILLION IN PENSION SUIT.
- Source :
-
New York Times . 9/30/2004, Vol. 154 Issue 52988, pA1-C4. 0p. - Publication Year :
- 2004
-
Abstract
- Reports on the announcement from I.B.M. that it had agreed to pay $320 million to its employees to settle in part a class action lawsuit over its pension plan. How I.B.M.'s liability will be limited to an additional $1.4 billion if courts uphold a ruling that a new pension plan discriminates against its older workers and is deemed illegal; Ruling of G. Patrick Murphy that the company discriminated against its older workers in the 1990's when it changed its traditional pension plan to leave older workers with only a cash-balance plan; Intention of I.B.M. to appeal the claims including that which questions whether cash-balance pension plans by definition discriminate against older workers.
Details
- Language :
- English
- ISSN :
- 03624331
- Volume :
- 154
- Issue :
- 52988
- Database :
- Academic Search Index
- Journal :
- New York Times
- Publication Type :
- News
- Accession number :
- 14550173