IBM posted a that explains the criteria.
1. Who is affected by the purchase of the group annuity contracts?
The annuity purchases generally affect pensioners and surviving beneficiaries, where the pensioner commenced monthly pension payments before January 1, 2016, and the monthly gross benefit amount that is expected to be paid on January 1, 2023, to the pensioner or surviving beneficiary is greater than $2,700 or less than $1,700. The selection criteria were designed to cover a broad group of Plan participants. For beneficiaries receiving pre-retirement death benefits, see the next question.
