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International Business Machines, better known as IBM (IBM), has set the retirement industry abuzz. Rather than doing a 401(k) match, the tech giant will contribute to a “retirement benefit account,” a type of benefit that is more similar to a pension. Yahoo Finance Senior Columnist Kerry Hannon explains the plan and why it’s shaking the retirement industry up.
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Editor’s note: This article was written by Stephanie Mikulich.
Video Transcript
– Pensions are back, sort of. IBM is saying goodbye to its 401(k). Instead, employees will now have access to a plan reminiscent of an old-school pension. Here to break down the details is Yahoo Finance’s Kerry Hannon. Kerry.
KERRY HANNON: Well, yeah, this is sort of how the retirement industry abuzz for