IBM Reinvents the 401(k)

Back in January 2008, IBM (IBM) replaced the last of its pensions with a new-and-improved 401(k). The plan came with plenty of enticements, befitting a company that earned more than $10 billion on $99 billion in revenue the previous year. There were generous matching contributions, super-low fees, custom-designed portfolios, free access to financial coaches, and more. Even so, critics hammered IBM's move as one more sign of retreat from the secure retirement benefits of the past... Today, hardly anyone is complaining about IBM's 401(k), least of all the participants...

BusinessWeek: IBM Reinvents the 401(k)