IBM to end 401(k) match, offer a ‘hybrid pension’: Will other employers follow suit?

2023-12-15T10:56:33-08:00November 21st, 2023|Categories: Pension Funding|Tags: , , , |

By Kristen Beckman Source: Benefits Pro IBM, once a leader in the shift away from defined benefit plans to defined contribution plans in the United States beginning in 1984, is now heading in a new direction with its retirement savings benefit for employees. Many industry observers wonder if other employers will follow IBM’s lead again. IBM notified employees earlier this month that it will suspend its 401(k) match and 1% automatic contribution as of Jan. 1 and will instead [...]