IBM agreed last week to settle a small part of a mammoth lawsuit that alleges a pension plan adopted by the firm in the 1990s discriminated against 140,000 older workers. Scores of large companies with similar pension plans are closely eyeing the case, which could conceivably run into the billions. After a judge ruled in the workers' favor earlier this year, IBM said an overall judgment involving its cash balance pension plan could cost more than $6.5 billion.
September 20, 2004 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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