Mad as hell

Janet Krueger still spends part of every day
thinking about how she can put right what she feels IBM set
wrong back in 1999. That is the year the company converted
its defined benefit plan to a cash balance formula. Krueger
was part of a crusade that accomplished what many would have
viewed as an impossibility; she helped lead a movement that
convinced Big Blue to alter its pension strategy, broadening
by 35,000 the number of individuals it would allow to opt out
of the cash balance plan and stick with the old-style annuity
plan. Ultimately, the traditional plan was offered to anyone
who was older than 40 years of age and had more than 10 years
of service at the time the plan was switched. However, three
years after quitting a 23-year career as an IBM software
consultant, Krueger is not satisfied.

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