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Subject:  Re: Retirement savings options for high-income e Date:  1/5/2011  9:15 AM
Author:  Goofyhoofy Number:  68077 of 97882

I guess tech companies must be an exception.

Westinghouse was a heavy industry manufacturer, making warships for the defense department, electric generators for places like Niagra Falls, and building planned communities through its credit division. We were in the broadcast division, which accounted for about 3% of their total sales. (The plan was the same throughout all divisions.) The plan was administered by Mellon Bank.

Scripps-Howard was a newspaper publisher and television station owner. The third, the shopping network, was a stand-alone unaffiliated business with around 2500 employees. I forget who administered the plan.

I don't know if you count those as "tech" companies, but our experience was that there was noplace to put the money except their choice of a half-dozen stock funds and a bond fund or two. The all provided a company match, which was good, but limited selection, which was bad.

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