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IBM Makes Changes to 401(k) (WSJ)

Company could save millions by paying employee match in a lump sum at year-end.

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IBM will alter its 401(k) plan next year by making its contribution to employee accounts in a lump sum once a year, on Dec. 31, in a move the Wall Street Journal estimates could save the company millions of dollars a year. IBM contributes from 6% to 10% of employees’ pay, but under the new system, workers who leave the company before Dec. 15 won’t qualify for the match unless they are retiring.

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