Employee Education

[Guest LexPlannner]

This is not a specific 401k Q, but, I have a new client with 5,000+ employees and they would like for the employees to make better personal financial mgt choices, thereby reducing loans, hardwhip withdrawels, garnishments, etc. They are willing to provide Employee Financial Education Workshops.

I am looking for "off the shelf" tools to use at the workshops, ie, workbooks, overheads, etc. etc. We invision a 6 - 9 hour workshop over 2 -3 meetings.

Anybody know of such tools??

[Guest KDPINSF]

Give me a call at Merrill Lynch on (800) 937-0615. I can set up a free,

no-strings-attached conference call with our defined contribution plan group. We're the second largest provider of 401(k) services and have useful tool available for what you describe.

-Keith Pagan

[Guest TMRobinson]

Additionally, for those participants who

are comfortable with internet programs, have them log on to "401k.com". It is Fidelity's

home page and has a retirement calculator among other neat tools.

Also, the DOL has a website (DOL.gov) and has offered "sample portfolios" for participants looking for the "litmus test" of portfolio planning. It is clearly not an exact science but can add to your list of resources.

The more resources plan sponsors can provide to compliment this gentleman from ML, the better. Good Luck!

[This message has been edited by TMRobinson (edited 12-15-98).]

[Guest Benweb]

We have a tool that appears to be precisely what you're looking for. If you want a free look, e-mail me at Michael.Rose@us.pwcglobal.com or give me a call at 202-822-5501.

Michael Rose

PricewaterhouseCoopers

[Guest kac1214]

I have worked with a broker, Ken Alexander of Smith Barney, and he has been developing an interesting educational tool. It is basically a comic book series with a retirement guide and is being developed with Ted Benna. Try calling Ken at 717 295 8900

[QDROphile]

Be careful about putting on your own education show. Whoever is doing presentations needs to know the differnece between investment education and investment advice. The DOL has issued Interpretive Bulletin 96-1 on this issue. See ERISA reg. section 2509.96-1. If you are giving investment advice, you may be inviting trouble because investment advising is regulated by law.

[Jon Chambers]

Recognize that full service brokerage firms like Merrill Lynch and Smith Barney have financial products to sell, and that by using their educational materials, the plan sponsor is implicitly endorsing these financial products. This may bring attendant liability. I concur that you should be well familiar with DOL Interpretive Bulletin 96-1, and personally recommend that you get your communications materials from advice vendors, such as PwC Coopers, rather than financial product vendors. But that last part is just an opinion from a cautious person, and is not intended to denigrate the work that firms like Merrill Lynch do. Their materials may be great.