If IBM goes bankrupt someday (god forbid that never happens) or they are acquired by another company, is the pension funding protected by US law?
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Do not count on company promises unless the amounts are in writing. If the pension fund is managed internally the money is subject to whatever the company decides to do with it. In 2000 the legacy pension plan vanished overnight and a lot of employees got screwed.
Actually netbenefits.com/ibm
IBM offloaded 2015 and earlier pension obligations to insurance companies via buying annuities. So yes those obligations have zero protection. 2016 retirees and newer are still covered under IBM’s legacy retirement plan so are enrolled in the PBGC This doesn’t mean IBM couldn’t declare bankruptcy, BUT as of last quarter, IBM’s pension fund was 112% funded
Login into netbenifits.com/ibm
I believe Fidelity has the pension money. I cashed mine out and check came from Fidelity
absolutely not protected.