IBM shuts new workers out of pension plan
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International Business Machines Corp. has shut its cash-balance pension plan to new employees, CBSMarketwatch.com reports. Instead, new employees can contribute 6 percent of their
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Prudential Financial Inc.  said  on Wednesday that it will shut down its stock research and  trading business, in the insurer&#39;s latest pullback from a rocky  26-year stay on Wall Street.
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JP Morgan Chase &amp; Co. said Wednesday it was canceling a $5 billion outsourcing deal with IBM Corp. and planned to rehire about 4,000 workers who had been transferred to IBM under the pact.
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IBM Corp. and plaintiffs challenging the legality of its pension plan agreed to a deal Wednesday that settles most claims and caps the company's potential liability at &#36;1.7 billion. The company previously had estimated a settlement could cost as much as &#36;6.5 billion.
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Fidelity Investments on Thursday said two employees have been let go and 14 others have been disciplined for violating company policies covering gifts from brokers to the mutual fund giant&#39;s traders.
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U.S. insurance company Prudential  Financial Inc.  said on Wednesday that it will shut down  its institutional stock research and trading business,  Prudential Equity Group, ending a rocky 26-year stay on Wall  Street.
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IBM on Wednesday said it will  take a third-quarter charge of $320 million to settle all but  two claims of an ongoing lawsuit claiming its pension plan  discriminated against older workers, in exchange for capping  its potential liability at $1.4 billion.
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Starting next year, International Business Machines (IBM) will exclude new workers from its contested cash-balance pension plan and offer them only a 401(k) savings plan.
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Oct. 11 issue - IBM retirees will get their cash, but what&#39;s it to you? It&#39;s too soon to tell. Last week IBM agreed to pay $300 million to settle old pension claims, and agreed to pay $1.
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Members of the GMB trade union at British Airways (BA) have voted to reject the company's recent plan to change its pension scheme.
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IBMÂ laid off 1,573 employees WednesdayÂ as part of a continuing overhaul of its services unit, the company said.ADVERTISEMENTIBM Information On Demand 2006Industrial Industry Leaders, please join us at IBM's premier information management global event, IBM Information On Demand 2006, October 15-20, Anaheim, CA. More IBM business and technical solutions content in one place than ever before! Select from  over 800 sessions. Register today!
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Starting next year, International Business Machines Corp. will exclude new workers from its contested cash-balance pension plan and offer them only a 401 (k) savings plan.
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Many small-business employees have no access to retirement plans at work.
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InfoWorld - IBM&#160;laid off 1,573 employees Wednesday&#160;as part of a continuing overhaul of its services unit, the company said.
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The pensions of 40,000 workers at Turner & Newall are in danger amid reports that its parent firm will not continue to fund the company's scheme.
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JPMorgan Chase announced on Wednesday that it will cancel its multiyear, $5 billion outsourcing contract with IBM, bucking an industry trend that has seen IT outsourcing grow by dramatic proportions.
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The inexorable march of outsourcing took an abrupt about face Wednesday, when JPMorgan Chase bank canceled its $5-billion outsourcing deal with IBM and said it would take back the 4,000 employees working at IBM on the bank&#39;s IT programs.