Peggy:  Considering where we are in the divestiture process, I don't think it is the  right time to have PGE contract for and administer the Health and Welfare  Benefits noted in your memo dated 04/20/01.
In addition, it is likely that a  potential buyer would want PGE to come under its own Health and Welfare  Benefits.
Switching now could entail having PGE employees being under three  Plans in a relatively short period of time.
Stan

HEALTH & WELFARE BENEFITS