Monday, January 23, 2006

Pensions cut

More companies are cutting their pension programs to save costs, moving the money to 401k instead. IBM is one of them, starting 2007.

As for myself this is no gain/loss as IBM will be contributing the equal amount, only that it is entirely in my hands how to manage the money properly (i.e. which funds to invest in). But when a coworker shows me this article, it makes me want to growl...

CEOs cut pensions, pad their own

1 Comments:

Blogger FrecklesFly said...

Unbelievable, its no wonder why the gap between high income class and low income class kept on growing. Something better be done about this, maybe drive them crazy with more unions (not too fond of them but thats one of options, eh?)

12:14 PM  

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