Conference 7.286::digital

    I'm assuming that this change takes place for the next period.
    You've plenty of time to change your deduction or opt out completely.
    
    			Alfred

    The new revised deductions will begin on your Nov 11 paycheck per the
    last memo I saw. This does result in more upfront money out of your
    check. However, it also represents an opportunity to increase your
    income in the long run. In any case, the choice is yours. You are free
    to lower your deduction percentage if the new deduction puts undue
    strain on your budget.
    

    
    If this is a gift horse, I'm checkin' teeth and gums!
    
    

Re: .3

You must have gotten different mail than I did.  The new deductions take effect
with the Nov 1 pay period.  People in the US will be getting those paychecks on
Nov 10, we just found out.

The SAVE plan started including these things about a year ago.  It is to our
benefit, especially with SAVE, when the contributions are not taxed.  I think it
was just a question of interpretation of what pay to base it on.

Elaine

    The new incentive pay plans are the prime reason for the change.  With
    many folks base pay being reduced, the total percentage of earnings
    available for the plans was drastically reduced. So now all pay is
    elgible.  This is your money, manage it the way you want.
    
    Simple - no conspiracy, be an 80%er.  We asked to have it changed and
    management did it.
    
    Thanks management
    
    

    RE: .5
    Sorry if there was a mis-understanding. The new deductions take effect
    on the money we are earning THIS week. This is the money that would
    have been paid on Nov 11 (Now Nov 10). I just found out about next
    week's checks being issued on the 10th instead of the 11th.
    
    If you're not confused, then please seek professional help. 8-)
    

    Re: .1-
    
    	Not much notice after all, eh?
    
    Re: .2-
    
    	It may be my hand in my pocket, but when I enrolled in ESPP it was
    with the knowledge that it was a percentage of base pay with an option
    for additional contribution for whole shares. One might notice that 
    control of the hand is being manipulated to effect increased employee
    investment in the corporation. I'd prefer to make these decisions
    myself, thank you.
    
    	Changing the percentage of contribution isn't an option for those
    already at the minimum (which I am not BTW). They're helpless watching
    their take-home pay decline unless they drop ESPP altogether.
    
    Phil

    Come on, people.  THis is a no brainer.  You SHOULD be taking out the
    absolute maximum you can and putting it into the ESPP.  You can go to
    the bank and borrow the cash it is taking from your paycheck and still
    make out like a bandit.  You are GUARANTEED 15% return on your money
    after only 6 months.  And, on average, you only are investing 1/2 of
    your contributions for the six month period.  I haven't figured out the
    return on an annual basis, but it looks a helluva lot better than
    anything else I've see that's guaranteed!!
    
    CW

    
    
    	I had to chuckle about the reference to "stand-by" pay. Is there
    	any organization still getting this?  My organization has standby
    	or "on-call" or whatever else you want to call it.  It's been quite
    	awhile since there was compensation for it though.  In all fairness
    	however, we do get a 1/2 compensentory time off for it.

    This works for me...I like it. Now if we can get Digital to match (even
    in part) the 401k plan. (Like 80% of the fortune 500 companies).
    
    	We are still a fortune 500 company?
    
    Rick

Is this decision corporate-wide or U.S. only?

/Mario

>   You are GUARANTEED 15% return on your money
>    after only 6 months.  And, on average, you only are investing 1/2 of
>    your contributions for the six month period.  I haven't figured out the
>    return on an annual basis, but it looks a helluva lot better than
>    anything else I've see that's guaranteed!!
 

	This is untrue, I "made" -4% - yup, a loss, last year on the two deals.

	I have no idea why it takes 4 weeks to get me a cheque, and why it is
	sent to me in dollars, when they took my money in sterling.

	Heather

re.13:

I agree, not only is it possible for you to make a loss on the scheme if 
you are UK based but our wonderful Inland Revenue still taxes us on the 
assumed profit! Now if only someone could invent a means of transport that 
would get the cheques here in less than the current 4/6 weeks.

Dave.

re: .-1 and quicker transport than checks - this is currently US only,
but it's apparently a step in the right direction

- tom]
********************************************************************************
DIGITAL INVESTOR SERVICES BCN ARTICLE
                                                             Volume 1, Issue 2

This is the second issue of our Benefits Communications Newsline (BCN) on-line 
newsletter for providing benefits information to employees.  This issue of BCN 
highlights:
o Investor Services' new direct deposit feature for stock sale proceeds; 
o Who is eligible;
o How to enroll;
  - Investor Services' Touch-Tone System
  - Payroll's PAYEEphone System
o Why Digital is making this feature available.


New Direct Deposit Feature for Stock Sale Proceeds
Investor Services is adding a new, secure and convenient transaction feature 
for direct deposit of stock sale proceeds into employees' checking or savings 
accounts -- for sales on or after November 15, 1993.  Your sale proceeds will 
be deposited into your bank account when the stock trade is settled five 
business days after the sale.  For example, if you sell your Digital stock on 
Monday, November 15, 1993, your sale proceeds would be deposited into your 
account on the trade settlement date (and 5th business day after sale) of 
Monday, November 22, 1993.

You must also accept final detailed confirmation of your deposit over the 
network.

Because direct deposit eliminates the need for mailing a check, you can start 
to earn interest on or have access to your money from your stock sale several 
days sooner than you would if you had to wait for your check in the mail and 
take it to your bank to deposit.  This new feature helps you avoid such 
inconveniences and ensures that your money is safe.


Who Is Eligible?
All active Digital employees in the U.S. are eligible.  However, you must 
first be enrolled in the payroll direct deposit program to take advantage of 
this new feature.  Please note:  If you have designated a joint tenant on any 
of your stock accounts, you cannot direct deposit proceeds from stock sales 
from those accounts.


How to Enroll for Investor Services' Direct Deposit Feature

If you are already enrolled in Payroll direct deposit and now wish to 
participate in Investor Services' direct deposit feature, use Investor 
Services' Touch-Tone System to enroll:

o Dial DTN 223-6000 or (508) 493-6000.
o From the Main Menu, press 5# for Direct Deposit.  (Enter # after each 
  entry.)
o Enter your badge number and the pound (#) key.
o Enter your Stock Brokerage Security Code and then the pound (#) key.
o If you are an eligible employee, the system will ask you to re-enter your 
  Stock Brokerage Security Code to enroll or you may press 9# to exit the 
  system without enrolling.

If you need your Stock Brokerage Code call 223-6000 or (508) 493-6000, select 
option 2 (General Information) in the main menu, then select option 3 
(Security Code Request) to have your code mailed to your home address on the 
next business day.

If you are not already enrolled for Payroll direct deposit, you can enroll 
through Digital's PAYEEphone Touch-Tone System as follows:

o Dial DTN 223-5555 or (508) 493-5555.
o Enter your badge number and the pound (#) key.   (Enter # after each entry.) 
o Enter your PAYEEphone Security Code, plus #--or 10# to have your code mailed 
  to your home.
o From the Main Menu, press 1# for Direct Deposit.
o Then press 1# for Payroll.
o Select the Enroll function and provide account type, the routing number, and 
  your account number (see information below).  

  			     Your Checking Account    Your Savings Account
  			     			      (For DCU members you 
  			     			      may only use your 
  			     			      "Primary" savings 
  			     			      account)

Account Type		     1#			      2#

Routing Number		     The first 9 digits at    Contact your financial 
  			     the bottom left of       institution or the  
  			     your check (plus #).     Digital Credit Union
  			     			      (DCU) for this number.


Account Number		     The next digits to the   Contact your financial
  			     right of your routing    institution or the DCU
  			     number (plus #).  Do     for this number.
  			     not include the check 
  			     sequence numbers at 
  			     the end of the line.

Once you enroll for Payroll direct deposit, it will take three weeks to 
activate your direct deposit feature as a result of a banking regulation 
requiring companies to verify account information ten business days prior to 
activation.  

You will receive a written confirmation of your enrollment so that you can 
verify your input.

 ------------------------------------------------------------------------------
| Remember:  To enroll for Investor Services' direct deposit feature for your  |  
| stock sale proceeds, you must already be enrolled for Payroll direct deposit.|
 ------------------------------------------------------------------------------

Why Digital Is Making This Feature Available
Digital is adding this new Investor Services' direct deposit feature for stock 
sales as a part of a continuous effort to improve service to employees.  
Investor Services' direct deposit for stock sale proceeds offers many 
advantages:
o It's convenient.  You don't have to wait in line to cash a check or worry 
  about this chore when you are traveling.
o It's flexible.  You can have your funds deposited into a checking or a 
  savings account.
o It's reliable.  You avoid the risk of lost or stolen checks.
o It helps you save.  Your funds are deposited in your account sooner than if 
  you had to wait for a check to be mailed.

For more information
You can call DTN 223-3431 (or (508) 493-3431 outside Digital) for more details 
about this new feature -- and for an informational flyer.


Distribution: (deleted)

    re:  last two
    
    Is this a possiblity?
    
    Take out an account in the Digital Credit Union and have it direct
    deposited there.  It only took a week the last time I sold stock, and
    that's with the check sent to me in the mail.
    

>    re:  last two
    
>    Is this a possiblity?
>    
>    Take out an account in the Digital Credit Union and have it direct
>    deposited there.  It only took a week the last time I sold stock, and
>    that's with the check sent to me in the mail.
 

	We don't have a credit Union in the UK.

	We are paid into our bank acoounts for salary and expenses, I don't
	see why we can't be paid in this way for shares too.

	Also, the main complaint, is that money is taked from us in sterling,
	but paid back in dollars, which means we are being forced to absorb the
	exchange rate risk.

	Heather  

    re .17: I'm not sure an international money transfer is very quick
    either...
    
    BTW, I have received my checks rather quickly ( < 2 weeks) for sales on
    the first possible day - the checks have been mailed here in Germany,
    so I assume they use some other bulk transport from US to here first
    (UPS?). Checks from sales on random dates tend to take four weeks or
    so.
    

   >  You are GUARANTEED 15% return on your money
   >  after only 6 months.  And, on average, you only are investing 1/2 of
   >  your contributions for the six month period.  I haven't figured out the
   >  return on an annual basis, but it looks a helluva lot better than
   >  anything else I've see that's guaranteed!!
    

It works out like this:

1.  You pay $85 - you get back $100.  15/85 = 17% return

2.  It is over six months, ie you get it twice a year - 17 * 2 + 34%

3.  You invest in even increments over the six months, ie your money is 
invested for an average of 3 months - double again - 34 * 2 +68% return!

Now - - - this is only true on the day of exercise.  At that point you 
either cash out or decide that you are investing your cash in Digital 
stock.  You decide on your investment strategy.

    When we lived in London, we opened an account at Barclays and kept it
    some years after returning to the U.S.  It may be possible to open a
    DCU account as a member of Digital.  That way you could hold the money
    in that account and exchange it when the rates were favorable.  
    
    I may be smoking dope by suggesting this, as there might be rules
    against DCU operating outside the US.  
    
    Actually, I just called DCU - they require a Social Security number
    which apparently one has to have if paid in the US.  Sounds weird, but
    that's the rule.  There simply has to be a way around this; 
    unfortunately I don't have the foggiest idea of what that is.
    
    Sorry.

You can insist on an account without a SSN (I think they use 999-99-9999), 
but they will withold 20% of your interest if any and you may have to deal with
the IRS.

However, my experience with trying to get DCU to deal with nonstandard
operations is that they are worse than the local banks. That you may be
a Digital employee carries zero weight with them. The basis for this behaviour
is adequately described in one of the "Hitchhiker's Guide to the Galaxy" books.

It might be worth doing if you can find a a bank acct with no interest (and
no fees) and arrange for direct deposit.

gary

    You don't need an SS number to open an account with DCU or any other US
    bank. Yes the front line staff will give you grief but just tell them
    to "to see figure 1". As pointed out an account opened without an SS
    number is subject to 20% withholding.
    
    But also note DCU is currently under the illusion that it is a bank
    (witness "Relationship Banking: and "fees"). The next election for DCU
    board members will I hope again remind DCU that it is a credit union
    and NOT a bank.
    
    Dave

	well, I had an SS number, as I worked in the States for a while...
	....and paid US taxes...and had a US bank account (bank of Maryland)
	 and credit card (Marine something?),
	so I probably even have a good credit reference somewhere.

	and ,oh, those wonderful wd40-nr (or something like
	that) and those HR Block people that seem to breed at specific
	times of the year.

	However, I have no idea what I did with the card with the number on.

	How do I find out what my number is, and will it still be valid?

	Also, I closed all these when I left, because one thing they couldn't 
	handle was an address without a zip code, and a house with a name, not a
	number........and one that was 6 lines long and had an alpha-numeric 
	7-code post code.
	Has this changed?

	Go try it.......you may get past the social security bit, but try
	getting past the compulsory zip-code patter.

	At the end of the day, this may be able to help me, but I doubt many 
	other UK employees are in the same position.

	Heather

    	You think you have things diffcult?!
    
    	As far as I can make out, it is not possible a French resident to
    personally hold non-French shares. Shares that I keep from the stock
    purchase plan are kept by a bank in Nice, and they charge me for
    keeping them. They would charge me a lot more for selling them.
    
    	Fortunately there seems to be some gimmick if I decide to buy and
    sell simultaneously. For some reason the shares are never then owned by 
    the bank in Nice, so I am saved two lots of commission, and the sale *is*
    at the same time as the purchase. It doesn't protect me from exchange
    rate fluctuations, but since these tend to balance out I tend to get
    the expected 60% or so.
    
    	One thing that is slightly annoying as well is that the bank in
    Nice gets my votes for the stockholders meeting. Since I never
    nominally own any shares I never get any votes.

    
    Would it help to get Stock Certificates rather than keep the
    stock in an account? Perhaps someone can explain this better
    (hint, hint), but it's rather like having cash rather than 
    having a bank account.
    
    Also, return on the shares:
    
    Buy $100 worth of shares for $85. Return is $15 on an $85 investment
    (17%.6%), BUT you have to sell the shares to get the money, so after
    the sale, your balance in the account is $0. You have to invest an 
    additional $85 during the next period before you buy the next $100
    worth of stock. You've invested $85 twice, total of $170, to buy
    $200 worth of stock. You have to sell the stock to get a return.
    Return is 200-170=$30; $30 return on a $170
    investment is still 17.6%. (And unlike a bank account, this is 
    NOT compound interest).
    
    So 

    
    (Sorry--I wanted to comment on #3 in .19 also)
    
    I learned a while back when I was investing in Certificates of
    Deposit that the only realy way to compare returns is to 
    compare dollars out to dollars in. What you get out of the
    stock plan is 15% more money than you put in, assuming that 
    the price of the stock stays constant, and so on. You can 
    play 3 card monte with the (claimed) interest rates until
    the cows come home, but what counts is the money returned.

>    I learned a while back when I was investing in Certificates of
>    Deposit that the only realy way to compare returns is to 
>    compare dollars out to dollars in.


	Yup, but we have � sterling taken out, and $ dollars given back to us
	...........4 weeks later.

	
>        ............ but what counts is the money returned.

	Indeed, and I'd like it in the same currency it was taken.


	Heather

    I don't know how long it will stay there, but I have put a copy of the
    SSAN FAQ in AWECIM""::SSN.FAQ.
    
    Pat