Welcome
Benefits & Executive Compensation News

IBM Workers Doubt Supreme Court Will Hear 401(k) Stock Spat

Jan. 31, 2019, 8:05 PM

International Business Machines Corp. is unlikely to convince the U.S. Supreme Court to hear a case challenging losses suffered by its retirement plan, IBM employees told a federal appeals court.

The company’s retirement plan committee recently asked the Second Circuit to delay enforcing last month’s surprise decision in favor employees who challenged a 7 percent drop in the company stock in their plan. Employees opposed this request Jan. 30, saying no delay was necessary because the Supreme Court was unlikely to take the case.

The decision was a rare win for 401(k) investors in a series of Employee Retirement Income...

To read the full article log in. To learn more about a subscription click here.