The BenefitsLink Newsletter -
Retirement Plans Edition
November 27, 2000
Today's sponsor is 2e Corporation (click on banner for more information)
John Hancock to Appeal Federal District Court Ruling In Harris Trust Litigation
Excerpt: "John Hancock Financial Services, Inc. today announced that it will appeal the decision of a federal district court judge to award more than $19.5 million to the Unisys Trust for claims arising out of a group annuity contract originally purchased in 1941. The lawsuit, known as Harris Trust & Savings Bank v. John Hancock, was originally filed in 1983, and involves the application of federal pension law (known as ERISA) to group annuity contracts purchased by retirement funds." (PR Newswire, via Yahoo! Finance)
The Lump Sum Handbook: Investment and Tax Strategies for a Secure Retirement
Originally $15.95, now $2.95 on clearance at Edward R. Hamilton books (not affiliated with BenefitsLink). (EdwardRHamilton.com)
Some Misplaced Federal Employees May Not Even Know They've Got a Problem
Excerpt: "The government first learned more than a decade ago that it had a problem with employees enrolled in the wrong retirement systems. Since then, many employees have told of financial hardships they encountered when those errors were not discovered until late in their careers, often as they were applying for retirement." (Washington Post)
Lost Stock Options Give Rise to Suits Over Job Termination
Excerpt: "Some workers are saying that employers fired explicitly to avoid issuing stock options or to prevent from exercising or cashing in the options. But more often, lawyers say, workers who have been fired or pushed out, such as Erickson, are choosing to go to court over their dismissals because of lucrative stock options." (Los Angeles Times)
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