IBM changes 401(k) petition
5
I just signed the petition this morning:
http://www.change.org/petitions/international-business-machines-ibm-usa-ibm-must-reverse-the-decision-changing-the-ibm-match-401-k-contribution#share
Have any others here signed? Only 395 have signed so far. We should have many many more than this.
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End of times is here?
The year 2012 refers to the last year of the Long Count Mayan calendar.
The current Great Cycle, as the Mayans call it, is set to end on the winter solstice of 2012 - to be exact December 21st 2012. Many people believe that on this date, our world will change forever and never be the same...
http://endoftimesishere.blogspot.com/
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Your Taxes at Work!
3
http://online.wsj.com/article/SB10001424127887323530404578203933755282340.html
"Under Hawker's proposed Chapter 11 plan, that means the PBGC will recover less than seven cents on the dollar."
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Protect Your Healthcare Data!
Smartphone users:
Watch out for third-party healthcare-related mobile apps and the use of your Smartphone on any wifi network at your employer or place for coffee, etc. Aetna has a few apps, for starters.
There are many offices with bring-your-own-device (BYOD) policy and few users really know the security exposures.
Also: In airports, cafes, and hotel lobbies, there may be "evil-twin" fake wifi hotspots that have the five bars and they are sitting near you with a notebook, and have noticed your Rolex, etc. They often use very-convincing SSIDs that make you think it is really Hyatt, Delta, etc!
Here's how they do it: http://www.youtube.com/watch?v=pNFf4ghUSSk
http://en.wikipedia.org/wiki/Wireless_LAN_Security
Hint: don't check for your pension deposit in a public place, especially if you do not know what https is!
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PBGC holding $300 million in unclaimed pension benefits
Keep good records!
http://www.post-gazette.com/stories/business/news/pbgc-holding-300-millionn-unclaimed-pension-benefits-668369/
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Health care law(PPACA) may help Baby Boomers
36
http://www.usatoday.com/story/money/personalfinance/2012/12/27/boomers-obamacare-health-reform/1717009/
snip:
The ACA is likely to spark many more changes. Employers that still offer retiree health benefits may decide to provide something different. For example, instead of a health insurance plan, they may give Boomer retirees a fixed amount of money, called a premium reimbursement, Fontanetta says. Retirees could use that money to select insurance at their state exchange marketplace.
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AT&T Has $10 Billion Pension Charge
I know it is not IBM, but it is sure is a big company.
http://mobile.bloomberg.com/news/2013-01-17/at-t-records-10-billion-pension-charge.html
"AT&T Inc. (T), the largest U.S. phone company, recorded a $10 billion fourth-quarter charge for its pension plan and said smartphone discounts and costs related to Superstorm Sandy cut into profit."
More,
http://blogs.wsj.com/corporate-intelligence/2013/01/17/7521/
Now, back to the exercise bike.
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on the lighter side...
I have confirmed that there is no truth to the rumor that this person supervises the ibmpension board moderators' actions
https://pbs.twimg.com/media/BBYYcy-CYAE-AbL.jpg:large
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recent dramatic stuff over in ibmpension!
6
The recent dramatic (hormonal?) verbiage stiff over in ibmpension proves a point to carefully shop for mental illness coverage when getting any supplemental stuff for medicare.
See also: http://www.medicare.gov/publications/pubs/pdf/10184.pdf
Maybe the water might be bad in the lower Hudson Valley, maybe since 2010: http://finance.groups.yahoo.com/group/ibmpension/message/68295
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Happy Pi Day 3.14
http://www.piday.org/
As a college math teacher, I must say I am fascinated with pi.
I also like pie. My favorite is blueberry.
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Annual Meeting of Stockholders April 30, 2013 Huntsville Alabama
http://www.ibm.com/annualreport/2012/bin/assets/2013_ibm_proxy.pdf
Annual Meeting of Stockholders on Tuesday, April 30, 2013 at 10 a.m.,
in the Von Braun Center, Huntsville, Alabama.
It is about a 100 mile drive for me. I am thinking about going. Anyone else thinking about it?
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Warren Buffett's risk
Is there something he knows. Food for thought.
http://beta.fool.com/equityfinancials/2013/01/17/why-warren-buffet-loves-company/21485/
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IBM On Demand Community?
Are there any other IBM employees or retirees that participate in this?
IBM On Demand Community Newsletter
From On Demand Community ODCNEWS @ US.IBM.COM
April 2013
Later this year, we will celebrate the 10th anniversary of On Demand
Community and we have never been prouder of our IBM volunteers. IBM has
a deep and long standing commitment to the communities in which we live
and work. The 13 Volunteer Excellence Award winners for 2012 embody this
commitment by demonstrating exemplary volunteer service in projects
around the world that apply IBM's Smarter Planet strategies to community
service. Please read about the winners below and share our pride.
· Volunteer Excellence Award: Congratulations to the 13
Volunteer Excellence Award winners who have been approved for this top
recognition by IBM Chairman and CEO Ginni Rometty. Seven teams and six
individuals integrated their professional skills, IBM business
strategies, IBM programs and volunteer resources to make a difference
in their communities. Each award-winning employee or team will be
featured in a detailed story of service in the coming months, but you
can find the announcement of the winners and read a brief overview now.
· Community Grants: The Community Grants program is now open
for 2013. This unique program is a special benefit available to regular
employees and retirees who are actively volunteering in an eligible
community organization or school. Don't wait to get started! Your
volunteerism counts, so start tracking your hours now and apply as soon
as you qualify to make sure your school or not-for-profit will benefit
from the program. The closing date for this year's Community Grants
program is October 31, or when the grants funds are expended, whichever
comes first.
· Activity Kits: Remember, the Community Grant amount
increases if an On Demand Community Activity Kit is used. Whether you
volunteer in a school or support your favorite not-for-profit
organization, you can find resources on topics that will help you bring
extra value to your volunteer work.
· Stories of Service: Read how Lillie NG, IT architect in
New York City, first learned about helping with natural disasters
during her Corporate Service Corps assignment in the Philippines and
how that led to her making a difference during super storm Sandy last
year. Additional volunteer success stories are also available to
inspire you.
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Issues with the ibmpension board
8
The description of this board says "A place to talk about issues with the ibmpension board." I have some issues with the ibmpension board. My biggest issue is about one of the things that is written in the description section of that board:
"Posts will be deleted if: ... 3) They denigrate other people."
During the last several days there have been a high percentage of posts that denigrate other people. That is my opinion and others may disagree with me and I welcome comments from others who do disagree with me. I say that if denigration of other people is allowed the description should be changed to eliminate the false claim that it is not allowed.
Other opinions about this? Does anyone agree? Does anyone disagree?
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Involuntary Subscribe
3
Anyone know who has been involuntarily subscribing folks to this forum?
How do I know I did not do it? Well, the email address that this "helpful" person used was a business address (not the one you may see now) that is NOT nor has ever been used on Yahoo.
While I AM a retired IBMer and I AM drawing a pension, I did NOT sign myself up for this group.
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"Poof" goes your Future Health Account !
9
=============================
Others have written that IBM's new 401K practice of annual instead of semi-monthly match gives IBM a financial incentive to fire employees with at least part of the employee's severance funded by canceling IBM's accrued liability of the individual's 401K match.
Eligibility for the Future Health Account gives the same incentive. 15,000 IBM'ers were fired in 2002. I was 47, with 24.5 years of service, and even with 5+5 (add 5 years to age, and 5 years to service to get to either 55 or 30), my numbers of 52 & 29.5 meant that I was unable to bridge to retirement. Altho I retained my Pension 1, "poof" went my FHA (2002 value about $25K). I'm sure some personnel accountant figured that erasing that future liability funded other immediate severance costs.
Individual litigation is expensive; short of a class action or Department of Justice/Labor interest in these things, it'll probably never be tested in court.
"At Will" employment is supposed to be equal between employer and employee. I can understand losing a promised benefit had I left voluntarily or been terminated 'for cause' (NOT usually the case in a "resource action". However I think the deck is stacked against the employee when the employer can reduce termination costs by NOT having to pay promised benefits when they fire employees.
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The End of Software; The Fall of IBM
3
I wonder if any programmer outside of Federal/State employees is working at a job that has a pension for the future?
groundreport.com/the-end-of-software-the-fall-of-ibm/
(servers may be swamped!)
about the source:
http://en.wikipedia.org/wiki/GroundReport
http://www.crunchbase.com/company/groundreport
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The IBMi25 campaign
http://www.itjungle.com/tfh/tfh062413-story02.html
AS/400 folks can relate to the above and how some things have changed.
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IBM Cuts Systems And Software Jobs, Hopes To Boost Profits
http://www.itjungle.com/tfh/tfh062413-story05.html
Like night follows day, darkness is descending on nearly 3,000 IBM employees who are being dishonorably discharged--the company prefers the term "workforce rebalanced"--from the payroll of the IT giant in the United States and Canada. On a global basis, the number is expected to exceed 5,000 and possibly as many as 8,000 could be without jobs by the end of the year. Earnings per share, which guides IBM's decision making, should benefit, while families and communities get the dirty end of the stick.
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Future Health Account
18
Anyone else in this boat. Terminated from the company, forced to retire, more then enough years to retire but forfeiting the FHA account because not 55 years old? What kind of nonsense is this? I could see not being able to access the account until 55 years old but forfeit it? Doesn't seem legal..
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