Simple Cost Sharing Agreement With Ibm In Wayne
Description
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FAQ
sharing plan is a type of qualified defined contribution plan in which the employer contributes to the accounts of participating IBM employees. As the name implies, employer contributions are generally (but not necessarily) tied to the business's profits, allowing employees to 'share' in those profits.
Contributions vary widely from business to business, and there's no specifically required percentage for employers to contribute. Some businesses may contribute 2-10% of company profits, while more generous PSPs may offer 20% to employees.
A profit sharing plan is a type of plan that gives employers flexibility in designing key features. It allows you to choose how much to contribute to the plan (out of profits or otherwise) each year, including making no contribution for a year.
IBM annual gross profit for 2023 was $34.3B, a 4.93% increase from 2022. IBM annual gross profit for 2022 was $32.688B, a 3.82% increase from 2021.
As of Dec. 31, IBM's U.S. pension plan assets totaled $24.44 billion, while projected benefit obligations totaled $19.85 billion, for a funding ratio of 123.1%, ing to information from the company's 2023 annual report.
