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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.
Excess cash resulting from tax law changes means tech companies are paying down debt, despite low interest rates.
The average annual healthcare spending for individuals with employer-sponsored plans reached an all-time high of $5,641 in 2017.
J.P. Morgan Asset Management strategist David Kelly expects a first-quarter slowdown due in part to the government shutdown.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.
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