Diversions November 5, 2008

Monopolistic Tendencies

Do not pass Go...
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…Do not collect $200…
It was 73 years ago this week (November 5, 1935) that the game “Monopoly” was introduced by Parker Brothers Company. The game was actually a descendant of the Landlord Game, patented in 1904 by Lizzie J. Magie, a Quaker from Virginia. Maggie designed her game to promote her political belief in the passing of a single federal tax based on land ownership.
In honor of the occasion, we’ve found some interesting trivia about the game:
  • The three most-landed-on properties are Illinois Avenue, “GO”, and the B&O Railroad.
  • The character locked behind the bars is called Jake the Jailbird.
  • Mr. Monopoly is the name of the MONOPOLY man.
  • Parker Brothers rejected the MONOPOLY game when it was first presented to them in 1933, citing 52 fundamental playing flaws (no, we don’t know what they were).
  • The board property Marvin Gardens is actually a misspelling of the original location name, Marven Gardens (Marven Gardens is not a street, but a housing area outside Atlantic City).
The longest MONOPOLY game ever played was 1,680 hours long (70 straight days). However, world records are maintained for the longest game:
  • in a treehouse (286) hours,
  • underground (100 hours),
  • in a bathtub (99 hours) and
  • upside-down (36 hours).
Cash Counting
In case, you were wondering, the quantities and denominations found in standard editions of the MONOPOLY game are:
  • 20 $500 Bills (orange),
  • 20 $100 Bills (beige),
  • 30 $50 Bills (blue),
  • 50 $20. Bills (green),
  • 40 $10. Bills (yellow),
  • 40 $5. Bills (pink),
  • 40 $1. Bills (white).
By the way, the total amount of “cash’ in the game – a mere $15,140.
Interestingly enough, if you’ve lost some of that money – or if it has come to an untimely “demise’, you can also download and print Monopoly money – for free – at http://www.hasbro.com/games/kid-games/monopoly/default.cfm?page=StrategyGuide/gametools..
Products November 5, 2008

MetLife Unveils 403(b) Specimen Document

Plan sponsors and advisers of 403(b) plans now have access to a specimen document that can help them comply with new legal requirements.
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MetLife Resources, a division of MetLife, announced the availability of its 403(b) specimen plan document that clients can use in meeting the written plan requirement under the final 403(b) regulations that generally must be met by January 1, 2009.

As part of the final 403(b) rules announced by the IRS in July 2007, most employers will be required to maintain a written plan beginning January 1, even for salary reduction-only arrangements. Generally, employers must formally adopt a written 403(b) plan no later than December 31, 2008, according to the firm. MetLife Resources’ specimen plan document is intended to help employers meet these new requirements and allows employers to design a plan that best fits their employees’ needs.

“The need for a written plan is probably one of the most significant changes in the new guidance. MetLife Resources’ specimen plan document is designed to help simplify this process,” said Thomas G. Hogan, Jr., senior vice president and head of MetLife Resources. “This is just one more example of the many tools and resources we are offering our clients to help them prepare for January 1, 2009.’

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There is no fee for this service and the plan document will be updated, as needed, for regulatory changes, according to the announcement.

To further guide employers as they begin documentation of their plan, MetLife Resources has also made available its white paper, 403(b) Plan Readiness: Getting Your 403(b) Plan Ready. The paper presents an overview of the basic terms to be included in the plan document, as well as plan design decisions that must be addressed. This white paper can also be accessed here or at metlife.com/mlr.

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