IBM Delivers Financial Education and Planning for All U.S. Employees

IBM Delivers Financial Education and Planning for All U.S. Employees

IBM today announced a multi-million dollar personal finance and education benefit program for all its U.S. employees that sets a new benchmark for corporate retirement planning in America as the company transitions from traditional retirement benefits to IBM’s new 401(k) Plus Plan in 2008. The new program, called “IBM MoneySmart” combines in-person educational seminars, online tools and confidential, one-on-one personal planning sessions with independent financial experts. It is designed to help IBMers “get smart” about personal finance by providing them with the guidance they need to plan for a secure retirement. Employees will have access to experts who can assist them on topics ranging from retirement income planning to college savings and debt management.

“No other company that I’m aware of has ever done anything this comprehensive for its employees,” said Randy MacDonald, IBM Senior Vice President, Human Resources. “It combines broad-based financial education with unlimited access to confidential, one-on-one personal financial planning that will help IBMers navigate in a retirement environment where all employees – not just IBMers — have increasing responsibility for managing their own retirement assets.”

IBM is teaming with two of the nation’s leading financial service firms to develop and deliver these services — Fidelity Investments® and The Ayco Company, L.P., a Goldman Sachs Company, both premier companies who share IBM’s vision for this new service and have a range of capabilities that complement each other well.

Read the complete Press Release