IBM Freezing Pension Plan

IBM is freezing its defined benefit (pension) plan effective 12/31/2007 to save money. (It had previously closed the plan to new participants.)

Sources: NYT and AJC

Statistical Notes:
1. In 1979 around 62% of active workers were covered by DB plans. Today, around 18% of active workers are covered.
2. From 1986 to 2004, over 100,000 single-employer plans with about 7.5 million participants were terminated.