Company’s change to 401(k) plans show need for savings in employee benefits (as reported by Sarah Frier via bloomberg.com)

In what is currently uncommon, IBM announced last week that it will switch to an annual lump sum contribution to its employee 401(k) retirement plans. This change will reduce IBMs retirement contribution expenses by millions. Being one of the largest companies in the world with over 400,000 employees, this change may well spread to other companies and become more popular as employers look to ways of becoming more lean. Read full article here.

 

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