开云体育

I created this new board as a place to talk about issues with the ibmpension board.

The moderators seem to be Anti-IBM Bitter Dwell on the past Labor Union bigots Left-Wing Obama lovers Getting Amazon commissions from some book they keep mentioning Leaning toward socialism I feel if you post anything that would upset one of the above, you are wasting your time.

This is actually one of four boards I created on September 22, 2012, as a place to talk about issues with IBM related boards on Yahoo. The four issues boards in alphabetical order are: http://groups.yahoo.com/group/ibmemployeeissuesissues/ http://groups.yahoo.com/group/IBMissues/ http://groups.yahoo.com/group/ibmpensionissues/ http://groups.yahoo.com/group/ibmretireeissues/

Some different news! http://www.reuters.com/article/2012/10/19/us-att-pension-idUSBRE89I14Y20121019 "AT&T's pension plan was underfunded by about $10.2 billion at the end of 2011, a company spokeswoman said." Compared to Verizon: http://news.investors.com/technology/101912-630022-cwa-approves-att-pension-fund-plan.htm

Democrats, please don't read: (it's about vote buying) http://dailycaller.com/2012/10/28/documents-treasury-officials-held-2009-backroom-bailout-meeting-on-delphi-pension-plans/ So glad IBM was not a union shop back in the day...!

I attempted to post the following message on the ibmpension board several days ago. Post never made it so I assume the moderators rejected it. Would someone that knows how to bypass the moderators post the following on my behalf? Kathi, This an interesting subject to me, and I thought that it was the source of some good discussion on this board. I have no problem with informed speculation. I have posted the entire thread on the ibmpensionissues board and invite responses there: http://finance.groups.yahoo.com/group/ibmpensionissues/message/17

If you look at and follow financial advice, one then should consider a pension, no matter how small or large, as part of your balanced portfolio, In other words, consider how much you would have to buy in bonds to get an interest yield equal to the amount you receive in pension. An example is that if you assume you can get an interest rate of 2%, then a pension of $30,000 a year would be worth %1,500,000. If you have $1,500,000 in your 401 savings plan, then in effect you have a 50/50 balance portfolio with 50% of your money in "bonds" and 50% in stock. You can change this balancing as you see fit. Based on the above, I see no reason why a person would choose a lump sum and have a risk of finding a decent yield on the lump sum you get. A retired IBMer Ken

I have been a member of the ibmpension board for about 3 and a half years. I have never tried to post anything there because I do not even half the Post option available to me.

Here is an interesting subject that was the source of some good discussion on the ibmpension board that was prematurely cut off by a moderator. I am posting the entire thread here and inviting responses to any or all of the messages. #73901 From: chz_whiz Date: Sat Oct 20, 2012 2:37 pm Corporate America is finally ready to deal with a monkey on its back: massive pension obligations. http://www.foxbusiness.com/news/2012/10/20/analysis-us-companies-take-aim-at-pen&#92; sion-risk-with-lump-sum-offers/ or http://tinyurl.com/8no25nw Important excerpt: "We hope people think really carefully about the decision," said Nancy Hwa, a spokeswoman for Pension Rights Center, a consumer organization in Washington, D.C. "It's very easy to be tempted by this large sum of money initially, and it's easy to spend it on something other than retirement." #73902 From: willbefree25 Date: Sat Oct 20, 2012 4:49 pm Duh. That's correct. Remember what a great man once said, and let it be a warning to everyone naive enough to think about choosing the lump sum, since IBM 'wants' you to choose the lump sum: #73903 From: samuel bernadino <w2uhasam@...> Date: Sat Oct 20, 2012 9:33 pm has any one been offered a lump sum or is this all conjecture? #73905 From: justa_bean_counter Date: Sat Oct 20, 2012 10:39 pm No vested terminated participants at IBM have been offered a lump sum. However, employees of corporations, other than IBM, stay focused to this group, including some from companies who HAVE offered the de-risking pension buy-out. Kathi #73906 From: "donwshuper50" <donwshuper50@...> Date: Sat Oct 20, 2012 11:56 pm KATHI . . . No vested terminated participants at IBM have been offered a lump sum. . . maybe that should read . . . offered a lump sum YET !! ?? Doc don #73907 From: willbefree25 Date: Sun Oct 21, 2012 11:47 am No VTPs at IBM have been offered a lump sum, YET, but since the original poster asked: "has any one been offered a lump sum" emphasis on 'any one', it WAS shoved down the throats of the No Choicers in 1999 and an attempt was made (thank you Janet et al who fought it and stared down the evil Socks Bouchard) to shove it down the throats of the Second Choicers in 1999. No attempt was made (what a surprise!) to shove it down the throats of those grandfathered aka the IGMs to the annuity pension (see a warning there?)in 1999. I'm guessing the executives and managers and CEOs (TFL, SB, BBG?) haven't had it shoved down their throats either. If you're still in doubt, see this very good article on why you shouldn't think IBM has your best interests at heart when they 'oh so generously' offer you VTPs a lump sum: http://www.workdayminnesota.org/index.php?news_6_5353 You've been warned. If you're naive, then as a very wise IGMer here said: Just as simple as that. Life is Great IGM<< So come on, VTPs, don't 'get what you get' because you are too naive to know IBM is evil. Regard: "The amount of money at stake is too good and that's all THEY (emphasis mine) care about — access to that money, not American workers." THEY being IBM. You've been warned. #73908 From: "Steve" <stevejm1935@...> Date: Sun Oct 21, 2012 5:07 pm No one in IBM-US has been offered a lump sum pension. However, employees of other corporations have, and it's s REASONABLE conjecture that at least SOME IBM employees and retirees will be. I believe an IBM executive is involved in a relevant organization. #73910 From: fhawontcutit Date: Sun Oct 21, 2012 6:05 pm - In ibmpension@..., samuel bernadino <w2uhasam@...> wrote: From the article: "In a survey released earlier this year by Aon Hewitt, 35 percent of about 500 large American employers expect to offer a lump sum payout." Companies with lump-sum pension offers: http://www.investmentnews.com/gallery/20121017/FREE/101709999/PH #73911 From: "Kevin W" <nowwicked@...> Date: Mon Oct 22, 2012 2:06 am I would agree with the YET. I don't see any reason IBM would not pursue this path. Between the reduced liabilities and the ability to possibly convince thousands of people to voluntarily leave the workforce, the savings potential is too much for the company to pass up. I'm still expected the email that says, "If you are eligible for the pension and have not yet retired, you must retire by xyz date or we will convert your pension to the new plan or a lump sum." #73912 From: CHARLES LYNCH <cflynch56@...> Date: Mon Oct 22, 2012 2:53 am Hi, I was laid off in March and will start working again tomorrow for a company in Poughkeepsie, NY. I took a class with my transition money at Dutchess and it worked out. As far as the pension discussion, my wife worked for Macy's and had a pension but we just found out it was converted to a cash balance account which would not buy a quart of milk..... #73913 From: "Kevin W" <nowwicked@...> Date: Mon Oct 22, 2012 6:21 pm Cash balance offers I don't expect will be very valuable to most of us, with the exception of folks who know they have a limited time to live and have done the math, don't have a surviving spouse who could benefit or other relatives. #73914 From: "Q" <nguy4444@...> Date: Fri Oct 26, 2012 3:10 am The above statement I fully agree with. I was at an IBM conference recently and ended up in conversation with about a dozen other IBMers, all (including me) on the old plan and eligible to retire. Two things we all agreed on. That the above statement will happen, and that sometime either in 2014 or 2015 IBM will move employees and retirees as much as possible to the health exchanges. My guess is that the majority of IBM employees still on the old plan expect these to happen... and our focus now is how prepare as best as possible for when those items occur. #73917 From: "teamb562" <teamb562@...> Date: Fri Oct 26, 2012 11:13 am Was there any speculation whether we will be able to use FHA funds to pay for the health care exchanges? #73921 From: "Q" <nguy4444@...> Date: Sun Oct 28, 2012 4:32 pm We felt that, if we were allowed to use FHA funds for the exchanges, there would be some kind of "catch" to it. It which case the best one could hope for is to use the FHA for the approved "private" insurance (which will last even shorter than it does now) before moving to the exchange. Again, no special insight or knowledge - just a group of us discussing and sharing ideas and how to best prepare, based on future likelihoods. #73922 From: justa_bean_counter Date: Sun Oct 28, 2012 11:28 pm Please, no more speculative posting on health care options of the future. Kathi

article: http://mobile.philly.com/news/?wss=/philly/news/nation_world/&id=177800581&viewAll=y#more "Some policy makers are exploring pension-type accounts that would be set up by governments and fed by contributions from employers and workers." ugh...

see: http://seekingalpha.com/article/989541-why-ibm-is-worth-over-200 comment posted after article: "We should tip our hats to IBM, even though this company has outsourced very good technical IT jobs out of USA. The business model depends on hiring cheaper IT labor abroad and laying off experienced IT professionals from USA. As investors, we should still appreciate the profits generated for the shareholders."

I am seeking a volunteer to become a moderator of this board. Said volunteer would agree to support my mission to grow this board's membership by migrating as many members as possible here from the member list of the ibmpension board. Suggested start is to build the list of current members of the ibmpension board and then send invites. This is what I have been doing on the ibmemployeeissuesissues board, but Yahoo limits invitations to 50 per day on all boards. I assume that a different moderator could also send 50 invites per day for this board, but we won't know for sure until somebody tries it. Anyone willing to help me?

Veterans Day in 2012 is on Sunday, the 11th of November. In the United States, Veterans Day is usually observed on November 11. However, if it occurs on a Sunday then the following Monday is designated for holiday leave, and if it occurs Saturday then either Saturday or Friday may be so designated. In 2012, Veterans Day falls on a Sunday, so Monday, the 12th of November is considered a federal holiday.

Just in case some of the readers face this decision in the future: http://www.dallasnews.com/business/columnists/scott-burns/20121114-dont-jump-for-a-lump-sum-pension-settlement.ece full text: Like many others, I recently received a one-time-only offer for a lump-sum distribution as a settlement for a vested defined-benefit pension. I am 58 years old. The lump sum offer is $250,000. The normal annuity benefit starting now is $1,489 per month. At age 65, it would be $2,089. If I take the distribution and buy an annuity with Fidelity, the monthly benefits are $1,185 and $1,700, respectively. I calculate that the "offer" is asking me to take a 20 percent haircut on my pension! Of course, I can simply take my normal monthly benefit through the pension. But if I do that, I am accepting the risk of a future default by my former employer. If that happens, my future benefits would be at the mercy of the Pension Benefit Guaranty Corp. Is it worth 20 percent to eliminate the default risk of the normal pension plan? Are there other factors I am not considering? S.O. Before you take the reduced offer, I suggest that you do two things. First, take a close look at the company you work for and the financial condition of the pension fund. If the company is profitable and the pension fund is well-funded — at least 80 percent — then you should stick with the company plan and not take the haircut. Assuming the company you work for is publicly traded, you will find information on the funding status of the pension fund in the footnotes of its annual report. Your next step is to assess your second line of defense: the Pension Benefit Guaranty Corp. For 2012, the maximum monthly benefit under the PBGC for a 58-year-old, according to its website, is $2,652. That's well above the $1,489 you cited for your earned benefit. The PBGC guarantees fundamental benefits earned before the termination date of the plan or by the date of the company's bankruptcy proceeding. In the event of such events, you are likely to lose health and welfare benefits, vacation pay, severance benefits, etc., but your basic lifetime pension income will be safe. Bottom line: If your company plan is close to fully funded, you're better off sticking with your company pension. I am 86 years old. I rent an apartment for $3,100 a month plus utilities. The total averages $3,400 monthly. I do not own real estate or vehicles, and I have no dependents. I'm considering moving into an all-inclusive retirement community. The average monthly fee is $4,000. I would pay an upfront fee, but my estate upon my death will recover 90 percent of it. My monthly income is $12,000 from a combination of Social Security and a company pension. I have about $1.3 million in financial assets — annuities, mutual funds and certificates of deposit. Should I plan to liquidate $400,000 cash as my deposit and not touch the mutual funds or annuities? Is there another approach to paying the entrance fee? P.J.W., Austin The continuing-care retirement community model is a good one. I wish more seniors would consider it, although many balk at the monthly expense. As a practical matter, a continuing-care retirement center provides a lot more in its monthly cost than the simple cost of shelter. Lots of bills you have as a renter will disappear. In a recent speech in Oregon, for instance, I compared the cost of continuing care and owning a house to the difference between a high-priced luxury cruise and one that says it's low-cost. In the end, your out-of-pocket costs may be the same because the high-priced cruise includes things such as excursions, unlimited wine, gratuities, etc. Lots of services and amenities are rolled into the monthly cost of a continuing-care retirement center that aren't part of the regular monthly cost of owning a home or renting. As to the entry payment, take as much as possible from your low-yield cash investments. Remember, many of the contingencies that you have worried about will be covered by your new living arrangement. In addition, your other sources of income indicate that you don't have to draw heavily on your financial assets. Scott Burns is a syndicated columnist and a principal of the Plano-based investment firm AssetBuilder Inc. Email questions to scott@....

http://www.bigstory.ap.org/article/us-pension-insurer-runs-record-34b-deficit excerpts: The Pension Benefit Guaranty Corp. says its deficit grew to $34 billion for the budget year that ended Sept. 30. That compares with a $26 billion shortfall in the previous year. Pension obligations grew by $12 billion to $119 billion last year. Assets used to cover those obligations increased by only $4 billion to $85 billion. The agency has now run deficits for 10 straight years. The gap has grown wider in recent years because the weak economy has triggered more corporate bankruptcies and failed pension plans. Me smells a bailout....

A decent daily read or worth subscribing to: http://www.pensiontsunami.com/

http://www.forbes.com/sites/ashleaebeling/2012/11/26/what-to-do-if-your-pension-is-frozen-or-youre-offered-a-lump-sum/ "Keep in mind, too, that insurers charge women more for annuities because of their longer life expectancy. But the lump sum amount is gender-neutral, so a lump is generally a worse deal for women. An alternative for women: Take the lump and use that money to delay claiming Social Security until 70, effectively buying a larger, inflation-adjusted annuity from Uncle Sam at a gender-neutral rate." "How secure is your pension if you don't take the lump? If your ex-employer retains its pension obligation to you and then goes bankrupt, the federal Pension Benefit Guaranty Corp. will pay you your pension–up to a maximum of $56,000 a year for a pension taken at age 65. (While that cap is adjusted yearly, your maximum guaranteed payment is locked in, based on the year your pension is dumped on the PBGC.)"

This is MY IBM ? I happily retired from 22 years ago. ?And this wonderful group of people have never been better IBMers than they are today,,, ups and downs,, YES,, but doubt,,, NEVER ? ----- Forwarded Message -----

I have been a member of the ibmpension board for over 5 years but have never been able to post anything. I do not even have the Post button available to me on that board.

Alliance@IBM CWA Local 1701 has sent you a message FROM: Change.org TO: richard_q_99@... Monday, December 10, 2012 9:37 AM Dear Richard, Thanks for signing our petition, "International Business Machines (IBM USA): IBM must REVERSE the decision changing the IBM match 401(k) contribution.." Can you help this petition win by asking your friends to sign too? It's easy to share with your friends on Facebook - just click here to share the petition on Facebook. There's also a sample email below that you can forward to your friends. Thanks again -- together we're making change happen, Alliance@IBM CWA Local 1701 --------- Note to forward to your friends: Hi! I just signed the petition "International Business Machines (IBM USA): IBM must REVERSE the decision changing the IBM match 401(k) contribution." on Change.org. It's important. Will you sign it too? Here's the link: http://www.change.org/petitions/international-business-machines-ibm-usa-ibm-must-reverse-the-decision-changing-the-ibm-match-401-k-contribution Thanks! Richard