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Subject: IBM Stockholder Resolutions on Pensions
From: Janet Krueger
Date: 11/14/00
IBM currently has over $17 billion dollars of surplus funds in their pension trust. This trust was established for the sole benefit of IBM employees and retirees. Yet IBM is hoarding the funds by denying COLAs to retirees and reducing the planned pensions of employees.

There are *two* pension related IBM stockholder resolutions being proposed for the 2001 annual meeting to address this issue. You have until November 15 to sponsor one *OR* the other. (SEC rules prohibit people from co-sponsoring both.) One resolution is a carry-over from last year, asking IBM to offer a choice of pension plan to *ALL* active employees and to restore the retirement medical promises. The other resolution is a brand new one asking IBM to report what the earnings would be without counting pension fund surplus increases, to determine executive bonuses only on the non-pension earnings, and then to return to managing the pension fund for the benefit of the plan participants, including retirees who deserve COLAs.

To co-sponsor one of the resolutions, you must own IBM stock, and you must state that you plan to retain that stock until the 2001 IBM annual meeting. Just go to

http://www.allianceibm.org/resolutions.htm

Select one of the resolutions, and fill out the form at the bottom of the page.

Please circulate this information to any of your friends and colleagues who might be interested in co-sponsoring one of the resolultions.

 

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