• Cash Balance Plans -- IBM Settlement Announcement
  • October 14, 2004 | Author: Joan A. Disler
  • Law Firms: Epstein Becker & Green, P.C. - New York Office ; Epstein Becker & Green, P.C. - Newark Office
  • On September 29, 2004, IBM announced that it had reached a partial settlement of its cash balance plan litigation. Somewhat obscured, however, in recent media coverage of the $320 million IBM agreed to pay in connection with its litigation was the precise claim settled. Understanding which claim was settled is an important distinction for those companies maintaining cash balance plans who are following this case.