Retirement plan

IBM PERSONAL PENSION PLAN

Name: INTERNATIONAL BUSINESS MACHINES CORPORATION - IBM PERSONAL PENSION PLAN (2024) Form 5500
Creator: INTERNATIONAL BUSINESS MACHINES CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBM PERSONAL PENSION PLAN, INTERNATIONAL BUSINESS MACHINES CORPORATION

INTERNATIONAL BUSINESS MACHINES CORPORATIONEIN 13-0871985Plan #001PY 2024

ONE NEW ORCHARD ROAD, MD 261 - ARMONK, NY 10504800-796-9876

Other plans on this EIN

2 filings

#005Retirement-$60.39B assets #006Retirement-$229K assets

Prospect flagsHigh retiree %Wind-down / frozen

How to read this page

Total assets (EOY)

$17919.9M

-28.2% from 2023

Total participants

144,666

+2.9% from 2023

Average account balance

No prior year

Annual return

2.47%

-2.06 pp from 2023

Benchmarks

See 185 peers

Peer group

Industryany (size+type match)

Plan typeDefined benefit

Participants>=10,000

Cohort185 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$17.92B

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$124K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

101,614

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+2.47%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 10 of 50 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL4 years Filed as: FIDELITY INVESTMENTS Service code 37 · EIN 04-2647786	Loan Processing	$11,108,495
WILLIS TOWERS WATSON US LLC9 years Filed as: TOWERS WATSON DELAWARE INC. Service code 11 · EIN 53-0181291	Actuarial	$10,305,311
IBM10+ years Service code 15 · EIN 13-0871985	Recordkeeping	$5,948,231
NISA INVESTMENT ADVISORS, LLC10+ years Filed as: NISA INVESTMENT ADVISORS Service code 51 · EIN 48-1140940	Investment Mgmt Fees	$3,992,785
NORTHERN TRUST COMPANY10+ years Service code 51 · EIN 36-1561860	Investment Mgmt Fees	$3,566,930
MORGAN STANLEY SMITH BARNEY10+ years Filed as: JP MORGAN INVESTMENT MGMT Service code 27 · EIN 13-3200244	Advisory (Plan)	$2,557,406
VOYA RETIREMENT INSURANCE & ANNUITY2 years Filed as: VOYA INVESTMENT MANAGEMENT CO Service code 13 · EIN 02-0488491	Contract Administrator	$2,077,521
IFM INVESTORS PTY LTD1 year Filed as: IFM INVESTORS (US) LLC Service code 28	Investment Management	$1,782,608
ALLSPRING3 years Filed as: ALLSPRING GLOBAL INVESTMENTS, LLC Service code 28 · EIN 95-3692822	Investment Management	$1,640,745
METLIFE LIFE INSURANCE COMPANY2 years Filed as: METLIFE INVESTMENT MGMT HOLDINGS, L Service code 51 · EIN 82-2405817	Investment Mgmt Fees	$1,531,336

Enrolled actuary

1 attachment

Free accounts unlock saves, downloads, and 3-year history.

Reportable transactions (Schedule G)

12 rows

Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.

Category	Counterparty	Relationship / Terms	Address	Amount
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX

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Plan features & details

Pension benefit codes1A1C1I3H3J

Plan features

1A
Benefits are primarily pay related
Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
1C
Cash balance or similar plan
A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
1I
Frozen plan
As of the last day of the plan year the plan provides that no participant will get any new benefit accrual whether because of service or compensation.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
3J
U.S.-based Puerto Rico dual-qualified plan
U.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 1165 of the Internal Revenue Code of Puerto Rico.

Opportunity flags

2 tripped

InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II

Admin total

$72.4M

$1681 / participant

Recordkeeping$11M15.7%
Trustee / custodial$110K0.2%
Investment mgmt$29M39.6%
Legal$557K0.8%
Actuarial$11M14.6%
Salaries / allowances$3M4.0%
Contract admin$3160.0%
Other / not subdivided$18M25.1%

% of EOY assets

0.404%

all-in expense ratio

Categories reported

7 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PRICEWATERHOUSECOOPERS LLP
Auditor EIN: 134008324
Audit fees: $313,453
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$310,574-100.0%

Participation rate

0.0%

0.0%0pp

57.3%-57.3pp

0.0%0pp

Annual return

2.47%

8.85%-6.4pp

8.04%-5.6pp

8.85%-6.4pp

Employer contribution / active EE

$8,529-100.0%

$42,698-100.0%

$8,529-100.0%

Participant deferral / active EE

$399-100.0%

$66-100.0%

$399-100.0%

Admin fee / account holder

$8,889-100.0%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL4 years

Filed as: FIDELITY INVESTMENTS

Service code 37 · EIN 04-2647786

Loan Processing

$11,108,495

WILLIS TOWERS WATSON US LLC9 years

Filed as: TOWERS WATSON DELAWARE INC.

Service code 11 · EIN 53-0181291

Actuarial

$10,305,311

IBM10+ years

Service code 15 · EIN 13-0871985

Recordkeeping

$5,948,231

NISA INVESTMENT ADVISORS, LLC10+ years

Filed as: NISA INVESTMENT ADVISORS

Service code 51 · EIN 48-1140940

Investment Mgmt Fees

$3,992,785

NORTHERN TRUST COMPANY10+ years

Service code 51 · EIN 36-1561860

Investment Mgmt Fees

$3,566,930

MORGAN STANLEY SMITH BARNEY10+ years

Filed as: JP MORGAN INVESTMENT MGMT

Service code 27 · EIN 13-3200244

Advisory (Plan)

$2,557,406

VOYA RETIREMENT INSURANCE & ANNUITY2 years

Filed as: VOYA INVESTMENT MANAGEMENT CO

Service code 13 · EIN 02-0488491

Contract Administrator

$2,077,521

IFM INVESTORS PTY LTD1 year

Filed as: IFM INVESTORS (US) LLC

Service code 28

Investment Management

$1,782,608

ALLSPRING3 years

Filed as: ALLSPRING GLOBAL INVESTMENTS, LLC

Service code 28 · EIN 95-3692822

Investment Management

$1,640,745

METLIFE LIFE INSURANCE COMPANY2 years

Filed as: METLIFE INVESTMENT MGMT HOLDINGS, L

Service code 51 · EIN 82-2405817

Investment Mgmt Fees

$1,531,336

IBM PERSONAL PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Reportable transactions (Schedule G)

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBM PERSONAL PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Reportable transactions (Schedule G)

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion