Indianapolis Recorder, Indianapolis, Marion County, 21 January 2000 — Page 26

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THE INDIANAPOLIS RECORDER

FRIDAY, JANUARY 21,2000

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Study shows U.S. employers are offering more investment options, education to help employees manage retirement savings.

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LINCOLNSHIRE, III. (Business Wire) If your employer offers a 401 (k) plan, now is the time to take advantage of it. New research by global management consulting firm Hewitt Associates indicates that U.S. employers are boosting their 401 (k) plan offerings and providing more investment education to help employees manage their retirement savings. According to Hewitt’s 1999 survey of 491 employers nationwide with a combined total of 3.3 million participants and $293 billion in assets, employers are offering more investment options than ever before. Nearly twice as many em-ployer-sponsored plans (42 percent) offer 10 or more investment options today than in 1997 (23 percent). On average, plans offer 11 investment options, up from an average of eight options in 1997 (see chart). “Clearly, employers recognize that a well-designed plan is critical for employees to prepare for a secure retirement," says Scott Peterson, defined contribution practice leader, Hewitt Associates. “By offering more investment options, employers are enabling employees to diversify, which is essential for retirement investments." The level of employer matches also is on the rise, with 19 percent of employers that offer matches providing a doli lar per dollar match, up 3 percent since 1997. The most common type of match is 30 cents per dollar, reported by 32 percent of employers offering EXTRACTIONS (Startinf At)

matches. In total, 92 percent of employers match before-tax employee contributions. As a result of more choices and opportunities for employees to build their 401 (k) savings, Hewitt’s research shows that employers have enhanced* their investment education efforts. The majority of employers surveyed (86 percent) provide investment education for employees, up significantly from 59 percent in 1997. Of those that provide investment education, 61 percent of employers maintain an on-go-ing communication campaign aimed at educating employees about 401 (k) plan investing. Many employers are also considering providing employees with access to investment advice. Nearly half (47 percent) of employers plan to offer outside investment advisory services within the next 12 months or will consider it in the future. “As employers offer more options in 401 (k) plans, it is crucial that they also increase their efforts to help employees make the most of this benefit,” says Peterson. "Understanding how decisions made today affect their finances tomorrow is imperative if employees hope to have a stable financial future.” Hewitt Associates LLC is a global management consulting firm specializing in human resource solutions. The firm is the largest provider of defined contribution services for large employers, administering programs to more than 4.2 million employees.

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EEOC sues Illinois ink manufacturing company over claims by workers **Ttmsssm ’ ROCKDALE, 111. (AP) — The U.S. Equal Employment Opportunity Commission has fileda lawsuit against an ink manufacturer accusing it of violating civil rights laws by failing to protect workers against racial harassment. Agency officials said that workers at Apollo Colors in Rockdale, near Joliet, have regularly faced racist graffiti and “racially offensive” statements made in front of supervisors. The company denied the agency’sciaims, saying ithas taken steps to deal with the problem ranging from calling local police and the FBI to offering diversity training. “It is clear that this lawsuit is only about money and publicity

and has been from the beginning,” said a company statement. John Hendrickson, attorney for the EEOC in Chicago, said the lawsuit was not about what workers did to one another so mudfT&sif was about management. “The real issue is why the company didn’t put a stop to it,” he said. The agency said it would seek damages for about 50 Black work-

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Eight workers filed a similar lawsuit against the company, formerly known as Scientific Colors Inc., last year. That case is bn hold pending the EEOC lawsuit, said Christina Spesia, an attorney for the eight workers. IRS, IDOR offering free workshop for small business owners Internal Revenue Service (IRS) and Indiana Department of Rev-

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DONT MAKE US CHOOSE. The United Negro College fund helps thousands of deserving students go to college. But for every one we help, there’s one we can’t. Not without the funds. With your generous donation you can help ensure that everyone who should go to college does, including the best of friends. Support The United Negro College fund. A Mind Is A Terrible Thing To Waste. Call 1 800 332-UIMCf.

enue (IDOR) offer free workshops to help small business owners meet their federal and state tax responsi-

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Hr A Starting a Business & Record Keeping Workshop will be held January 26 from 9:30 a.m. to 4:30 p.m. at the Library Services Building, 2450N. Meridan Street. Introductory course for the prospective or new business owner. Workshop topics include an overview of types of business organizations and advantages and disadvantages of each; federal and state tax responsibilities including business income and expenses, basic record keeping and an introduction to depreciation. Speakers include representatives from the IRS and IDOR. The workshop is free of charge, but space is limited and reservations are required. Individuals wanting more information should call 226-7650 or e-mail at indy .atyourservice @ m 1 .irs.gov

IBM Continued from Page D1 information technology providers, creates, develops and manufactures the industry’s most advanced information technologies including computer systems, software, networking systems, storage devices and microelectronics. IBM employs 290,000 people worldwide with operations in 164 countries. YOU CAN Continued from Page D1

(8) Never provide personal credit card information over the phone. (9) Destroy pre-approved credit offers, receipts and other information that can link your name with an account number. (10) If you do not want your information shared, notify your bank and decide what privacy policy is best for you. Call your bank or financial institution now to learn more about protecting your privacy. For additional information, visit the Web site of Consumer Alert at www.consumeralert.org.

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