Re: Wrong
It seems you correct, it is managed by L&G, however IBM is the one on the hook. Any shortfall will eat into buybacks and future spending. With ravaging inflation, soon to become stagflation it seems tough decisions might need to be made. This generation could yet again choose to screw over their kids and grandkids for a few extra years of luxury and benefit though by forcing governments to bail out the pensions funds, assuming they still have enough voting power.
https://www.pionline.com/pension-funds/ibm-add-300-million-non-us-pension-plans
https://fortune.com/2014/11/11/longevity-pensions-ibm-caterpillar/
Biting the hand that feeds IT
