Word: smalls
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Dates: during 1990-1999
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...trend signals an important sea change in the U.S. Even now, only 1 out of 5 small businesses offers full retirement benefits to employees, while 2 out of 3 workers for large companies enjoy a plan. "Small-business owners don't have the same luxury of time or resources that a big business has," says Aida Alvarez, administrator of the Small Business Administration in Washington. "In the past, it was easier for them to offer higher wages or other benefits instead...
...Fidelity Investments in Marlborough, Mass., it's a record year for sales of retirement products to small businesses. In 1998 Fidelity sold just over 1,000 plans to companies with 100 or fewer employees; this year it is on pace to sell twice that many. "It's no secret to most Americans that neither the government nor the company you work for is going to be there for you in retirement," says Peter Smail, president of Fidelity's Institutional Retirement Services Co. This fall Fidelity will begin offering a cyber version of the traditional 401(k), known as the e401...
...addition to the traditional and electronic 401(k)s, small companies are trying a wide range of retirement options, from the simple, newer plans to time-tested profit-sharing arrangements that require the help of a financial professional. An option that became available in 1997 is the SIMPLE (savings incentive match plan for employees of small employers) IRA. The plan, open to any business with 100 or fewer employees, allows employers to match employee contributions by filling out one irs form and setting up an IRA. Another alternative is a SEP (simplified employee pension), which allows only the employers...
Though sports-equipment companies are high profile, they have been erratic performers as businesses. They were often small parts of large outfits, and changed owners frequently. Prince, another company started by Howard Head, was sold to consumer products maker Chesebrough Pond's in the '80s. It is now owned by the Italian apparel company Benetton, which is building a sports division. Wilson, once owned by PepsiCo and then Wesray Capital, is now part of a Finnish conglomerate called Amer Group...
...that have been in place since 1991. The Telephone Consumer Protection Act requires companies to keep a list of people who request not to receive such calls, and gives consumers the right to sue telemarketers $500 for each violation. Last month a South Carolina man took AT&T to small-claims court for repeat calls, and was awarded...