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For Defined Benefit participants only

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  • keith_cowan2000
    IBM Canada have proposed to fold the excess (and total) funding of the Defined Benefit (DB) plan into their new Defined Contribution Plan so as to fund new and
    Message 1 of 132 , Sep 24, 2001
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      IBM Canada have proposed to fold the excess (and
      total) funding of the Defined Benefit (DB) plan into
      their new Defined Contribution Plan so as to fund new
      and current employees rather than pay it (the excess)
      out to the DB retirees. Their proposal is a violation
      of the Trust that was set up in 1958 to administer
      the funds. I suggest you go to the
      <a href=http://members.home.net/rewind22 target=new>http://members.home.net/rewind22</a> site and apply for membership then login for the
      full correspondence with the Ontario government on the
      subject. <br>They are constrained to keep the funding no
      higher than 150% of the anticipated funding needs and
      must pay out any excess to the participants. Since
      they are mostly going DC with new people, this
      represents a nice nest egg for us DB types. We can have some
      supervisory role in this fund with Royal Trust but need to be
      proactive in setting that up. The recent increases were
      overdue and were too small. But every $100 from
      participants will help the cause. Thanks...Keith
    • etahughes
      The Web site has changed to http://members.rogers.com/rewind22/
      Message 132 of 132 , Dec 11, 2001
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        The Web site has changed to <a href=http://members.rogers.com/rewind22/ target=new>http://members.rogers.com/rewind22/</a>
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