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Conversions to Cash Balance pension plans have become popular by large corporations recently. Such conversions can be done so they benefit employees, but sometimes are done in ways that harm employee retirement benefits.

Last year IBM started such a converion, but it was badly done and has caused a major employee reaction, serious unionizing efforts, etc. These conversions can benefit a corporation's bottom line, but they are complicated to understand and sometimes companies make it very difficult for employees to make comparisons. (IBM cut off access to the online retirement planning program for employees being converted.)

You will find a lot of useful information at

It may be good for you, it may be bad, but you do need to understand the details yourself, and not depend on the Human Resources staff of the company.

Good Luck. --LeftCoastJayhawk
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