International Business Machines Corp. today filed a notice in federal court signaling that it may be trying to reach a resolution on parts of a multibillion-dollar dispute over its cash balance plan. The notice formally advises the U.S. District Court for the Southern District of Illinois that IBM and Kathi Cooper, who brought the age discrimination lawsuit against IBM, are "in discussions regarding a possible resolution of some of the remedies issues and/or claims in the suit and seeks a postponement of the judge's anticipated decision." The company continues to vigorously defend the legality of its cash balance pension plan, and reiterated that it will appeal the court's decision to a higher court.
In July 2003, the federal district court ruled that IBM's cash balance plan discriminated against older workers. The court did not rule on how much IBM owed the plaintiffs.