Their is only one exception to that rule. If you were at least 40 years old when the cash balance/FHA conversion became effective (If I remember correctly I...
68799
madinpok
Jul 1, 2010 5:12 pm
If you are a second choicer, you can get the FHA with 30 years of service regardless of your age....
68800
skwilner
Jul 1, 2010 5:12 pm
I am coming off a retirement bridge after being let go last year. My retirement date is August 1. I just got my benefits booklet for retirement medical and I...
68801
fstephens
Jul 1, 2010 5:12 pm
Liz, YES and NO; both are true with conditions. If you were in the select group offered the "NEW OLD RETIREMENT plan" and were at least 40 with 10 years of...
68802
fhawontcutit
Jul 1, 2010 5:13 pm
... Sen. Bernie Sanders (VT) and Sen. Al Franken (MN)are on the Subcommittee on Retirement and Aging, a subcommittee of the Senate HELP (Health, Education,...
68803
zaciewskim
Jul 1, 2010 11:03 pm
So, don't go anywhere, now the management rumor mill says IBM has decided not to do anything about the pension plan, i.e., they have backed off. Who knows what...
68804
madinpok
Jul 3, 2010 2:08 am
Your answer is correct and more accurate than the one I gave. Although second choicers are eligible for the FHA once they reach 30 years of service and do not...
68805
gerstner_stooge
Jul 3, 2010 2:09 am
Guess Al Franken scared the pants of them...
68806
DonW
donwshuper
Jul 3, 2010 2:10 am
zaciewskim . . . wrote . . . "but I'm not going to trust ANYTHING I hear from ANYONE any more unless it's the head of HR making an announcement...." HR IS...
68807
art_vandalay_
Jul 3, 2010 2:11 am
... The employees that I was using the average for are all under 55 or under 30 years of service. Their balance is not $45,000. Mine is $35,000 and I am...
68808
art_vandalay_
Jul 3, 2010 2:11 am
... 1) There are about 42,000 IBM US employees that are 51 or more. There were 42,000 employees older than 51 on January 2007. Have you accounted that a lot of...
68809
Mike Germano
egroups@...
Jul 3, 2010 2:13 am
There are lots of reasons to spread rumors from the top. It may be to soften the blow or to get reaction to proposed ideas. It may also be to spread fear of...
68810
justa_bean_counter
justa_bean_c...
Jul 3, 2010 2:23 am
It's not about Al Franken. Try President Obama and Rahm Emanuel (White House). Try George Miller and Bernie Sanders (House and Senate). There were many...
68811
hankharty
Jul 3, 2010 2:44 pm
I was wondering if anyone did as suggested by DonW and wrote to the Plan Administrator asking if there are any changes under consideration to the pension plan...
68812
bits_bytes_and_bugs
bits_bytes_a...
Jul 3, 2010 2:46 pm
Good point. - You know that IBM will continue to cut costs regardless of the impact to service and product quality. - You know that IBM will continue US...
68813
hokeyiu
Jul 3, 2010 2:48 pm
... Hate to say this but you are dead wrong. In 1999 everybody got a starting balance. From 40 to 'over 50' the starting balance was from $1400 (40) to $2300...
68814
jonatha1
Jul 3, 2010 6:56 pm
... One's FHA balance is available on NetBenefits. I just missed the cutoff for 2nd choicers; I'm presently 48 years old. My balance is $22,032.49....
68815
patmorganstr
Jul 3, 2010 6:57 pm
... The current balance of my (so far unused) FHA account is about $53,000....
68816
Tony
foxhunt4u2
Jul 3, 2010 9:34 pm
I don't have $45,000 and neither does anyone I have talked to that will tell me what they have. People are between $37,000 and $41000, not sure how some folks...
68817
madinpok
Jul 5, 2010 1:35 am
People got different opening FHA balances in 1999 depending on their age. The closer your were to age 50, the more you got. The idea was to give the older...
68818
fstephens
Jul 5, 2010 1:37 am
If you were a SECOND CHOICER, "ie. NEW OLD RETIREMENT PLAN", then you have a lot more than those that did not qualify as a SECOND CHOICER. Also, being able to...
68819
Michael Ed
messagebygab...
Jul 5, 2010 1:38 am
 It is not just IBM that is laying off.  This is the common trend for large companies like IBM, and it will continue for a long time.  I recently had the...
68820
madinpok
Jul 5, 2010 1:38 am
For those who are interested, here is how the FHA opening balances were determined. Based on your age on July 1, 1999, you received an opening balance based on...
68821
art_vandalay_
Jul 5, 2010 1:40 am
... I'm not wrong. I'm in the FHA and I have a balance of $36,000. The remaining 2nd choicers (that are not retirement eligible) are all within that range....
68822
ibm20yrsnot40
Jul 5, 2010 1:42 am
... That is not correct. Their was a population, I was among them, That were moved into the PPA and FHA plans but were not yet 40 years old when the change...
68823
Kevin W
nowwicked
Jul 6, 2010 12:30 am
Rational and to the point. You and I are in the same boat. Doesn't matter what we were promised we have to live in the here and now. We have to plan for...
68824
Joe
jvadalma
Jul 6, 2010 12:31 am
The sad part of this is that our government policies actually encourage corporations to move their operations overseas by such policies as allowing taxes paid...
68825
imadeitto30
Jul 6, 2010 12:32 am
I've just managed to hit retirement eligibility in early June and am curious to understand what IBM can and can't do to me at this point pension wise. If...
68826
kady101@...
evanied
Jul 6, 2010 12:32 am
Although the three points as listed below are true, it's not so grim: One of the key "enablers"; allowing IBM to execute their business transformation has been...
68827
Kevin W
nowwicked
Jul 6, 2010 12:34 am
Here is the way I look at the FHA money I have. It is something that is there today, may not be tomorrow meaning my understanding is that the money is not...
