Detail Staying Off The Cover Of Time   Oleh:  McCarthy, Ed Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 189 no. 2 (2000), page 31-36. Topik: pensions; staying off; cover of time Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.10 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel Until recently conversions of defined benefit pensions to cash balance and other hybrid pension plans received little attention. That changed, however, when IBM’s problems captured headlines and landed the company on the cover of Time and other magazines in 1999. IBM’s decision to switch its plan for U. S. workers met widespread employee resistance, ultimately leading the company to modify its original proposal. Criticism of cash balance conversions prompted several members of Congress to introduce legislation that would increase scrutiny of future conversions, and the IRS invited public comment on cash balance plans. Despite IBM’s travails, other companies have converted their defined benefit plans without negative publicity. “For the most part, conversions have gone extremely well - that’s why these plans were around for 12 years before any issues arose,” says Eric Lofgren, director of the benefits consulting group with consultants Watson Wyatt Worldwide in Philadelphia. "For instance, probably 30 large banks have put in cash balance plans. But have you heard a peep about them ?” Although a plan conversion may generate some employee anxiety, the companies interviewed for this article reported that their transitions went smoothly and resulted in improved employee morale, not turmoil. They achieved this outcome by addressing two critical issues : the wear - away problem and effective communication. (For an explanation of the technical aspects of cash balance plans and how they work, see “Cash Balance Conversions)". Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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