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To: Jim Koch who wrote (5081)	4/28/1999 8:33:00 PM
From: Jim Koch	Read Replies (1) \| Respond to of 8218

Retirement Plan Speculation Most all 1st line managers in meetings/conference calls tomorrow. Let me go on on a limb here and say it is about the to be announced plan. Sorry all you retired "Beemers", I know nothing about how it may impact you. Makes sense though, they need to do something for the IGN people that are going to "T" on May 7.

To: Jim Koch who wrote (5081)	4/29/1999 12:10:00 PM
From: Arrow Hd.	Read Replies (1) \| Respond to of 8218

My quick math says this is not particularly attractive. If you are not 59 1/2 and take the cash to provide now you pay tax on this amount. Even tax free the return assumptions are around 8% to match the old traditional type retirement plans and there will have to be a window where anyone close to retirement could stay with the old plan versus the cash buyout. The 30% bonus would cover some of the tax bill but not all of it and that leaves quite a few people in a time warp in the third and fourth quarters. Anyway, as you were correct in pointing out, this is all rumor. I guess if there is any thing to it we will see it in print when and if it happens.