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The program 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, according to a press release - and at no cost to workers, at least for the first two years. The program's introduction comes as the company transitions from traditional retirement benefits to IBM's new 401(k) Plus Plan in 2008 (see IBM Beefs Up 401(k), Backs Off DB - Come 2008 ). IBM is teaming with Fidelity Investments and The Ayco Company, L.P., a Goldman Sachs Company, on this offering. The financial planners of Ayco and financial representatives from Fidelity who serve as MoneySmartCoaches are committed to customer satisfaction and receive no additional compensation for product or service recommendations from their own company versus products or services of any other company. "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."
The program 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, according to a press release - and at no cost to workers, at least for the first two years. The program's introduction comes as the company transitions from traditional retirement benefits to IBM's new 401(k) Plus Plan in 2008 (see IBM Beefs Up 401(k), Backs Off DB - Come 2008 ).
IBM is teaming with Fidelity Investments and The Ayco Company, L.P., a Goldman Sachs Company, on this offering. The financial planners of Ayco and financial representatives from Fidelity who serve as MoneySmartCoaches are committed to customer satisfaction and receive no additional compensation for product or service recommendations from their own company versus products or services of any other company.
"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."