A federal appeals court ruled that IBM did not commit age discrimination when it changed its pension coverage in 1999.
More than 140,000 older employees said that they were adversely affected when IBM converted to a cash-balance plan, which gives workers virtual accounts that can be cashed out for a lump sum when they leave a company. The plaintiffs had wanted the courts to force IBM to make up for lost potential benefits after the plan was rolled out. Traditional plans allow employees to amass more benefits over their final years with a company.
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