IBM to take $2.7 billion charge related to transfer of pension obligations

Quick Summary:

IBM said on Wednesday it expects a pre-tax charge of nearly $2.7 billion in the third quarter, related to a transaction involving the transfer of some of its pension plan obligations to a unit of Prudential Financial.

FILE PHOTO: Figurines with computers and smartphones are seen in front of IBM logo in this illustration taken, February 19, 2024.

A defined benefit plan guarantees a specific payout to employees upon retirement, completely funded by the employer without any contribution from the employee.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Third Pension Prudential Deal Plan Defined Charge Quarter Billion 2024 Obligations

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-12 @ 05:19:38 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 217 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 22464077

View Article Analysis

About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 42 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 4 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #27

Publisher Details

Frequently Asked Questions