"Defined benefit plans are designed to encourage employees to exit or retire when it is optimal for the company. A 401(k) is cheaper, but it is a 'cash and carry' account that does not have the element of timing finesse. A 401(k) plan does not reward loyalty, and its value is not predictable as it fluctuates all over the place depending on the financial markets. By making workers stay until December before they can receive the company's 401(k) match, IBM is putting back, albeit with an anemic substitute, a reward for workers to stay at least until December."  MORE >>