(If this message looks garbled to you or if the headlines in this message don't connect you to Web pages when you click on them, please request the "plain text" version of this newsletter ("Retirement Plans Edition") by emailing your request to publisher Dave Baker at davebaker@benefitslink.com)
The BenefitsLink Newsletter -
Retirement Plans Edition

Today's sponsor is PensionPlanet.com

Please support our advertisers
(Would your company like to sponsor an issue?)

June 1, 2000

Former Food Lion Workers Lose 10-Year-Old Section 510 ERISA Suit
Excerpt: "Rickey Bryant, his wife and children, and the United Food and Commercial Workers Union sued two years after Bryant was fired in March 1988 from his job as an assistant manager at a Columbia store. He was closing in on being vested and entitled to benefits such as insurance, retirement and profit sharing. Ten other former Food Lion workers and their families joined Bryant's lawsuit, charging that they lost their insurance coverage when they also were fired." (Associated Press)

DOL Offers Voluntary Correction Program
Excerpt: "The Department of Labor recently released its Voluntary Fiduciary Correction Program ("VFC"). Under the VFC, plans now have a way to make corrections of certain violations of the fiduciary requirements of the Employee Retirement Income Security Act and to obtain confirmation of compliance, including relief from penalties." (Kilpatrick Stockton LLP)

Mattel Rolls Out Horror Sequel to Barad Pay Plan
Excerpt: "Fresh from granting an obscene amount of severance pay to fired-CEO Jill Barad, the directors of Mattel fashioned an equally galling package for her replacement, Robert Eckert. If he doesn't work out, shareholders will again foot an expensive bill for failure." (Graef Crystal, on Bloomberg.com)

Women Need More, Have Less When Retiring
Excerpt: "Women live longer than men and need more money to last through their retirement, but earn less in their jobs. They are more likely to take time off during their careers to care for children or parents and less likely to have a pension plan. These factors, combined with more frequent job changes, mean women lose seniority and sometimes fail to vest in pension plans." (Reuters via news.excite.com)

A Bologna-Lover's Retirement Budget: If You Want Steak, Keep Your Day Job
Excerpt: "A survey by the Employee Benefit Research Institute released in May found that ... a majority of workers had either failed to figure out a retirement budget at all or were making overly optimistic plans. But recent economic research offers at least minimal reassurance." (U.S. News)

Subscribe to the Welfare Plans Edition, too (click)
Copyright 2000 BenefitsLink.com, Inc.

Feel free to forward this email to friends, colleagues or clients, if no fee is paid to you and the email is forwarded in its entirety. Thanks!

BenefitsLink is a trademark of BenefitsLink.com, Inc., published by Dave Baker with much help from Mary Hall and lots of friends.

To subscribe (free): visit https://benefitslink.com/newsletter/ - or the person desiring to subscribe can send an email to listmanager@postmastergeneral.com, with this as the subject of the email: subscribe BLretirement

We have an online archive of prior issues at
BenefitsLink logo
Looking for a speaker for your benefits group? Want to throw your hat into the ring? Free.

Need personnel? It's like fishing in a barrel here.

Need a benefits job? Sort the openings by their distance away from you.

Exchange questions and tips with colleagues. Co-sponsored by us and several employee benefits organizations.

Promotions and new personnel in the employee benefits community.

Experts field questions online, submitted by readers via email.

View by location, by sponsoring organization, or by date.

Largest listing of benefits software on the net: descriptions, downloads.

Ads are our sole source of support. No subscription fees!


Copyright 2000 BenefitsLink.com, Inc. All rights reserved. BenefitsLink is a trademark of BenefitsLink.com, Inc.