Financial Services Industry
Industry: Email Alert RSS FeedLEADING EDGE: Top-notch options, newsletter power Nortel's 401(k).(Nortel Networks Corp.)(Brief Article)
Pensions & Investments, March, 2001 by Jacobius, Arleen
NASHVILLE, Tenn. - Nortel Networks Corp. executives are trying to keep the company's $3.5 billion 401(k) plan for U.S. employees on the leading edge by making sure the plan has a top-notch set of investment options, along with making the vesting immediate and 100% and revamping a newsletter about the plan.
And more changes are in the works. Nortel Networks executives are planning to move to paperless enrollment sometime in 2001, said Daniel Ray, manager, U.S. benefits. (A Feb. 15 announcement that the company is reducing its work force by 10,000 will not affect plans for the 401(k), said spokesman David Chamberlin.) Currently, Nortel Network's 401(k) plan is unbundled with MetLife Retirement and Savings Group, New York, as its record keeper, and 17 different...
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