Sunday, March 26, 2000
SMALL-BUSINESS DIARY
Transfer pains being eased for spouses
More organizations are trying to make it easier for the spouse who accompanies an employee being transferred.
More companies are paying for resume preparation and career counseling for the relocating spouse, says a survey of 43 employee relocation professionals. The survey was conducted by management consulting firm Runzheimer International and reflects policies as of 1998.
The survey found the number of companies that will reimburse the employee for the spouse's lost income rose to 9 percent in 1998 from 2 percent in 1996. At the same time, the number of companies that will help the couples find a home dropped to 7 percent from 14 percent.
The study found that in 83 percent of the cases, it was the wife who relocated with the husband. In 17 percent of the instances, it was a husband who relocated for the wife's job.
Travel tickets online have hidden costs
Buying travel tickets over the Internet can cost more than you think, according to a study by Consumer Reports magazine.
It found 12 big online travel providers charge fees that can add as much as 85 percent to the price of your ticket.
More than half of the sites polled charged $4 to $30 to book and mail paper tickets.
Changing your itinerary also can be costly. While airlines tend to charge a $75 penalty for altering arrangements, some online sites charge up to $375, the magazine found.
78% of employees join 401(k) plans
More workers are joining in employer-sponsored 401(k) retirement plans, according to a study by the Investment Company Institute and Employee Benefit Research Institute.
On average, 78 percent of eligible employees participate in a 401(k), with the number of participants growing from 19.5 million in 1990 to 36.7 million in 1998.
Other findings:
• Almost half of participants have accounts worth less than $10,000, but 13 percent have balances of more than $100,000. The average was $47,000 at the end of 1998.
• About half of total bal ances were invested in stock funds, 18 percent in company stock, 11 percent in guaranteed investment contracts, 8 percent in balanced funds, 6 percent in bond funds and 5 percent in money funds.
A related study by the Investment Company Institute found about one in three U.S. households owns an individual retirement account.
About 25 percent of households own a traditional IRA, about 7 percent a Roth IRA, and 3 percent have an education IRA.
— The Associated Press and Gannett News Service
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