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Enron may change your 401(k) plan.
Byline: Susan Tompor
The implosion at Enron Corp. _ where the seventh-largest company crumbled into the country's biggest bankruptcy _ could rock the foundation of your 401(k).
Yes, your 401(k).
The drumbeat is getting louder in Washington for limiting how much of your company's stock you can stuff into your 401(k) plan. The father of the 401(k) plan suggests that you shouldn't be allowed to invest a dollar of your own money in company stock in the plan.
Credit the blowup of retirement savings at Enron. There, many Enron employees had half or more of their 401(k) savings invested in the energy-trading company where they worked.
Collectively, Enron employees lost millions by owning Enron stock when the company went bankrupt. One couple who worked at Enron saw $600,000 in 401(k) plans shrink to $271,000 in a year as the stock…
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...stock, Allen said. Enron employees made a...k) assets in company stock. Loading up looked...401(k) money in company stock, Anheuser-Busch...many employees of Enron knew they would...her portfolio in company stock from the start...goes up, as with Enron, the ...
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- Magazine article from: Investment News August 23, 2004 700+ words
...management. Up to 10% in company stock sounds more reasonable...rule "Investors in their company stock should really evaluate...of your portfolio, into company stock with the potential for another Enron issue, that's a big...
- Ex-Enron CEO's son sold company stock short months before Enron collapsed.
- News wire article from: The America's Intelligence Wire April 27, 2006 700+ words
...prosecutors aimed on Thursday to undermine Enron Corp. founder Kenneth Lay's testimony that short-sellers were partly to blame for Enron's collapse in 2001 by showing that Lay's own son bet Enron's stock would drop. Lay and former Enron...
- Employees Still Want Company Stock for 401(k)s Despite Enron Fall.
- Newspaper article from: Knight Ridder/Tribune Business News February 1, 2002 700+ words
...The horror stories of Enron employees losing virtually...have heavy concentrations of company stock in their 401(k) plans...constant at about 21 percent. Company stock figures prominently in the...companies, that's usually in company stock, which may result in tax...
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- Magazine article from: Journal of Pension Benefits Reish, Fred Faucher, Joe June 22, 2002 700+ words
...prohibit its sale. A little background on one of the Enron 401(k) cases may be helpful. Enron's Plan Provisions Regarding Buying And Holding Company Stock The complaint in one of the Enron 401(k) cases [Kemper v. Enron Corp., S.D...
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- Newspaper article from: The Washington Times (Washington, D.C.) (via Knight-Ridder/Tribune Business News) January 24, 2002 700+ words
...retirement savings in company stock than those at failed energy giant Enron Corp. -- At paint...and best-known. Enron was one of these...contributions with company stock, said Vance Meyer...The issue with Enron is that a lot of...overconcentrated in the company ...
- BAD RAP: Enron not the full story on company stock, P&I shows ; Shares at 31 of...
- Magazine article from: Pensions & Investments Clair, Chris April 15, 2002 700+ words
...in 401(k) plans following the Enron Corp. debacle is undeserved for...suffered over the past 18 months, company stock in many plans outperformed equity...five years. Unlike employees at Enron, who saw their 401(k) plan balances...
- Enron loaded worker 401(k)s with company stock: Problem widespread, new study...
- Magazine article from: Investment News Hansard, Sara December 10, 2001 700+ words
Employees of Enron Corp. of Houston are...their 401(k) assets in Enron stock, David Certner...of plan assets were in company stock at the end of 2000, according...amounts of their money in company stock," Mr. Certner said...
Source: HighBeam Research, Enron may change your 401(k) plan.
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