When Armonk, NY-based IBM announced it would change its pension programs in 2008, the company promised employees a financial-planning and education-benefit program to ease the transition.
The MoneySmart program, which will cost IBM $50 million over three to five years, offers employees financial seminars as well as unlimited personal phone appointments with financial experts to discuss everything from mortgages to college savings.
IBM has teamed with two financial-planning companies to serve 127,000 U.S. employees. More than 40,000 employees have signed up for the sessions, some with their spouses or domestic partners.
The program is an important “anchor” for employees, making them feel financially secure, says IBM spokesman Clint Roswell.
Contact: Clint Roswell at firstname.lastname@example.org.