General Information

Nomination and Selection of MND Arrangements

Elections for Member Nominated Directors

The Trustee comprises 12 directors; eight appointed by the Company and four MNDs elected by active and retiree members. The Trustee has responsibility for the IBM Pension Plan – Defined Benefit sections (C, N and Data Sciences) and Defined Contribution section (M and Enhanced M Plans) - and the IBM IT Solutions Pension Scheme (I Plan).

Role of a Member Nominated Director
You can download the 'Role of a Member Nominated Director' below.

In line with the requirements of the Pensions Act 2004, the Trustee made new arrangements for the nomination and selection of MNDs which were followed to select the four MNDs appointed in 2008. After the election, the profile of the MNDs was, as intended, two active members and two retiree members; however, subsequently, both active member MNDs retired.

Following the resignation of one of the MNDs in 2009, a further election for one MND was held and, in order to rebalance the profile as far as possible, an election for an MND from current employees was held. Robert Tickell was elected and took up his position on the Trustee Board on 10 December 2009.

In order to fill the vacancy as quickly as possible in a critical time when the Defined Benefit Plans were undergoing major upheaval, it was necessary to change the arrangements and only have active employees voting in the election. Full details of the revised arrangements can be found here.

Downloads

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