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Enron Mail |
Can't remember if I ever shared this with you two. (Michelle, Dusty sent this following one of the GSP conversations)
-----Original Message----- From: "Burke, Dusty" <dburke@velaw.com<@ENRON [mailto:IMCEANOTES-+22Burke+2C+20Dusty+22+20+3Cdburke+40velaw+2Ecom+3E+40ENRON@ENRON.com] Sent: Tuesday, June 19, 2001 6:21 PM To: Barrow, Cynthia Subject: Leased Employee Memorandum Cynthia: Attached (for your reading enjoyment when you are REALLY bored) is a memorandum summarizing the "leased employee rule" under section 414(n) of the Internal Revenue Code. As I mentioned, the "recordkeeping exception" outlined in the memo and in the attached chart (if you meet the requirements) will keep you from having to track leased employees, related hours, etc. In addition, the recordkeeping exception gets you out of the requirement to grant participation and vesting service credit in the case of any temp/contractor who is later hired by Enron as a regular employee, which you otherwise have to do. Let me know if you have any questions. Dusty Burke. Miriam M. (Dusty) Burke Vinson & Elkins L.L.P. One American Center 600 Congress Avenue, Suite 2700 Austin, TX 78701 (512) 495-8425; (713) 758-3558 (telephone) (512) 236-3411 (fax) dburke@velaw.com - Leased Employee Rule - Internal Revenue Code Section 414(n).DOC
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