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Thursday, February 07, 2002

MFEA Gives Awards

Reported by InvestmentWires Staff, 

The American Benefits Council (ABC) claims some good is coming from Congress' Enron hearings into its 401(k) plan. James A. Klein, president of ABC, sees proscribed advance notice to employees on blackouts and more regular retirement plan benefit statements as one positive. Another, in his view, would be the passage of a laws encouraging investment advice. Finally, Klein hopes that Enron will renew Congressional interest in defined benefit pension plans.

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Retirement plan administrator Invesmart is joining the crush of firms urging Congress not rush new laws in response to the Enron disaster. The firms warns against new restrictions on plans and company stock.

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The Mutual Fund Education Alliance announced the winners of $1,000 in shares from 10 of its member firms. The firms donating shares to the sweepstakes included: ABN AMRO Funds, Ariel Mutual Funds, Babson Funds, Berger Funds, Liberty Acorn Funds, Monetta Family of Mutual Funds, Montgomery Funds, Oakmark Family of Funds, Stein Roe Mutual Funds and Westcore Funds. The contest is designed to encourage individuals to start investing and to use mutual funds.

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The new economy really is gone. Lehman Brothers is goingback from suits and ties and droppomg causal dress, according to an internal memo cited by Reuters. The flexible-dress policy was three years old. The new policy goes into effect on March 11.  

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