IBM PENSION RISK TRANSFER CLASS ACTION

Case

Spohn v. International Business Machines Corp., and State Street Global Advisors Trust Co., et al.

United States District Court, District of Massachusetts

Case No. 1:25-cv-12475 (filed September 5, 2025)

Case Overview

On September 5, 2025, on behalf of a group of retirees who are participants in the IBM Personal Pension Benefit Plan (the “Plan”), Bursor & Fisher, P.A., and Edward Stone Law P.C filed a class action lawsuit against International Business Machines Corp., as Plan Administrator and Sponsor; the IBM Retirement Plans Committee, As Plan Administrator; and State Street Global Advisors Trust Co., as independent fiduciary of the IBM Personal Pension Plan. The class action relates to two pension risk transfer transactions that IBM entered into in 2022 and 2024 with Prudential Insurance Company of America. Plaintiffs are represented by Yitzchak Kopel of Bursor & Fisher, P.A. and Edward S. Stone of Edward Stone Law P.C.

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