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The BenefitsLink Newsletter -
Retirement Plans Edition

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July 27, 2000

Opinion: Company Stock and 401 Koercion
Excerpt: "It hasn't been long since companies "persuaded" employees to buy U.S. savings bonds during annual bond drives, even though they weren't such hot investments. Today, many employees are, or feel, similarly obligated (possibly forced) to hold company stock in their 401(k) plans, but that's not such a hot idea, either." (Thanks to Tim Younkin for recommending the link!) (Alan Feigenbaum, on FinancialWeb.com)

Many Would Boost 401(k) Funds Given Reform, Poll Finds
Excerpt: "As President Clinton mulls a bill approved by Congress boosting 401(k) contribution limits, a poll of America Online members found more than half plan to increase the amount they put into their accounts if the measure is passed." (CBS.Marketwatch.com)

ERIC Applauds PBGC's Technical Update On 'Early Warning Program'
Excerpt: In a press release, ERIC "applauded [the recently issued] first-ever guidance from the Pension and Benefit Guaranty Corporation (PBGC) stipulating that the agency will intervene in corporate acquisitions such as mergers and spinoffs only when they threaten the agency's financial security." (ERISA Industry Committee)

Raising Retirement Age: How Much of a Solution to Rising Support Burdens in the Developed World?
Excerpt: "In this Data Digest from AARP's Public Policy Institute, Sara E. Rix examines the implications of population aging for retirement age policies in the United States and several other countries. Using data from the March 2000 United Nations report, Replacement Migration: Is It a Solution to Declining and Ageing Populations?, the digest highlights some of the difficulties countries would face in implementing even small increases in retirement age." (American Association of Retired Persons' Public Policy Institute)

Preparing to Invest Multiemployer Fund Assets
Consider the basic elements of fiduciary responsibility, investment options and vehicles, and the development of an investment policy statement, in a new booklet available from the International Foundation of Employee Benefit Plans ($10 non-members; free to IFEBP members). (International Foundation of Employee Benefit Plans)

July 26, 2000 Washington Update; Concern Over Use of Social Security Numbers in Plan Administration
Excerpt: "As we joyfully reported, the House passed on July 19 H.R. 1102 by a vote of 401-25. It now moves on to the Senate where no clear plan of action has surfaced. Washington observers predict one of two possibilities for action." (National Council on Teacher Retirement)

(Following also appears in Welfare Plans Edition)

Cheney Wasn't a Pay Hog at Halliburton
Excerpt: "Dick Cheney is a Republican. Republicans love wealth. Dick Cheney is chief executive of a large company. CEOs love wealth even more than Republicans. Case closed: Dick Cheney must be a greedy porker. If that's the script Democrats plan on using to blast Cheney this fall, they better hire a script doctor. Based on his tenure at Halliburton Co., Cheney is not a porker at all." (Graef Crystal, on Bloomberg.com)

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