Total rewards strategies are constantly evolving, and now pensions are back in the spotlight. IBM's recent switch to a defined benefit plan signals a potential shift in retirement offerings. As the conversation around pensions gains momentum, it's clear that employee benefits are entering a new era. We share a passion for these topics. Learn about how iBridge can help at [email protected]. #TotalRewards #Pensions #EmployeeBenefits #EmployeeEmpowerment #SHRM #SHRMSurveyElite #hrsurveys #DriveChange #Metolius
Desh Urs IBM reopening its pension plan in 2023 reverses the trend in the past two decades of companies closing defined benefit plans and switching to 401K plans. Although the employee can't select how their cash balance is invested, it does give them access to a lifetime annuity to ensure they do not outlive their savings.
Pensions swinging back into vogue—how retro! ??? With IBM's leap, could we see a vintage pension renaissance? What's your take on the future mix of benefits? #TotalRewards #EmployeeBenefits
It's fascinating to see how IBM's switch to a defined benefit plan could mark a significant shift in retirement strategies. As companies re-evaluate their total rewards, how do you think this might impact employee retention and satisfaction?