Press Release

American Benefits Council Names Jan Jacobson as New Director, Retirement Policy

WASHINGTON, DC, September 5, 2003 -- The American Benefits Council is pleased to announce that Jan Jacobson has assumed the position of director, retirement policy, replacing John Scott, who recently left Washington, DC, to pursue his doctorate at Cornell University. Jacobson comes to the Council from Northern Trust Retirement Consulting, L.L.C. (now Hewitt Associates LLC) in Atlanta, Ga., where she served for the past seven years as chief compliance officer and vice president. In that capacity, as well as other positions throughout her career, she has gained both broad and deep experience in many aspects of retirement policy, including primary responsibility for corporate compliance with IRS, DOL, SEC and Federal Reserve regulatory requirements. Jacobson has extensive experience both as a practicing attorney in the ERISA field, as well as interpreting developments in the public policy arena for clients and others.

Of the changes, Council President James A. Klein said, "John so capably filled his role and contributed enormously to our success. Our regret at seeing John go is buoyed by our excitement at the prospect of working closely as a colleague with Jan. Her years of experience — not only on retirement policy issues but as a working journalist — and her superb communications skills will be a valued asset as the Council confronts the ever-growing challenges of voicing plan sponsors' message on retirement policy matters."

The American Benefits Council is the national trade association for companies concerned about federal legislation and regulations affecting all aspects of the employee benefits system. The Council's members represent the entire spectrum of the private employee benefits community and either sponsor directly or administer retirement and health plans covering more than 100 million Americans.