``Enriching Human Capital: Retirement Plans and the 2001 Tax Act'' Booklet Published Today by Deloitte & Touche LLP Examines New Law.

Business Editors

WASHINGTON--(BUSINESS WIRE)--June 4, 2001

Employers and employees have many expanded opportunities for retirement plans savings and portability as a result of the Economic Growth and Tax Relief Reconciliation Act ("The 2001 Tax Act") enacted by Congress on May 26. The Tax Act includes significant changes to retirement plans, including many that actually simplify some of the regulatory complexities of retirement plans.

Deloitte & Touche LLP's Human Capital Advisory Services practice analyzes the Tax Act in its booklet, "Enriching Human Capital: Retirement Plans and the 2001 Tax Act," which provides an overview of these changes to 401(k), IRA, and other retirement plans. The booklet is organized by topics such as:

-- Increasing Retirement Security -- increased 401(k) and IRA contribution
limits, more employer flexibility in funding for pension plans, savings
credits, catch-up provisions for those age 50 and over

-- Vesting and Portability -- faster vesting in some plans, more freedom in
transferring money between plans

-- Distributions -- changes in the ways retirement plan payments are handled

-- Plan Administrative Simplification -- complex IRS rules repealed

-- Section 457 Plans for Governments and Nonprofits -- simplifying these plans

-- Changes Unique to ESOPs

"In this booklet we have simply outlined the changes and made a few observations," said Richard Berens, principal and a national practice leader for Deloitte & Touche's Human Capital Advisory Services practice. "The new law can offer some valuable tools to enhance retirement plans in ways that attract and retain the workforce the employer needs and increases the retirement security for those employees nearing retirement."

Copies of the booklet, "Enriching Human Capital: Retirement Plans and the 2001 Tax Act," can be obtained by calling 888/361-9960 or by visiting the Deloitte & Touche Web site at www.us.deloitte.com/humancapital.