IBM has made a significant change by reopening its frozen pension plan, which had been inactive for over 15 years. This move has led the company to stop contributing to 401(k) accounts and instead provide workers with cash credits in the revived pension plan. The decision is surprising given the industry's trend of moving away from traditional pension plans towards 401(k)s. IBM's new approach is expected to save the company millions of dollars annually, benefiting shareholders and impacting its employee benefits package. This move could potentially influence other companies with similar pension plans.