Randy MacDonald Quotations

It's all about cost-competitiveness, so that we could continue to be the financially viable company that we are.

In recent years, IBM has been following a global strategy to move toward defined-contribution retirement plans for both existing employees and new hires. These changes are consistent with this direction and will give us more predictable retirement plan costs, along with benefits that remain ahead of but more in line with our competitors.

We're taking these actions to better control retirement plan expenses, position the company for business growth and competitive strength, and preserve employees' earned retirement benefits. We also believe these are prudent and balanced steps at a time of uncertainty and conflicting legislative and regulatory directions about defined-benefit retirement plans in the United States.

We're taking these actions to better control retirement plan expenses.