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Non-Tech : American Express (AXP) -- Ignore unavailable to you. Want to Upgrade?

To: Sommers who wrote (64)	8/27/1998 12:40:00 PM
From: Carey Thompson	Read Replies (1) \| Respond to of 179

I stand corrected, companies are adopting 'defined contribution' retirement plans. With these plans, the amount of an employees retirement benefits is based on the employees contributions to their retirement savings accounts. This ia a target market for AXP. The plans defined contributions plans are contrasted to the 'defined benefit' retirement plans. With these plans, the amount of an employees retirement benefits are based on the employees gross pay over some employment period. An example would be employee X yearly retirement = 50% of X's avg yearly pay for the 5 yrs before retirement. Or some similar formula. This is not a target market for AXP.