The plaintiffs had argued that converting the plan to a 401(k) unfairly benefited younger workers because they would have a longer time horizon during which to save. The court ruled that "treating the time value of money as discrimination is not sensible."
"We are gratified that the Court of Appeals has vindicated IBM's long-held position that its pension plan formula is both lawful and age-neutral," IBM said in a statement.
The Wall Street giant has been moving away from providing in-house retail investment advice to finding ways it can support smaller firms.
The Internal Revenue Service and the Treasury Department released final regulations on the transfer of clean energy manufacturing, investment and production tax credits, with specific rules for partnerships and S corporations.
Here's how commenters such as the AARP, SIFMA, FSI, the Consumer Federation, NAPFA, the CFP Board and others view the Department of Labor's retirement advice regulation.
In the first three months of 2024, both profits and client assets reached new heights at RayJay's Private Client Group.
A recent experiment tested different generative AI models against each other on the CPA Exam and found they each have their own strengths and weaknesses.
Last year, almost $1 trillion flooded into money market funds. Here are the 20 that have grown the biggest.
