Friday, January 18, 2002
Fox News has this piece on diversification of 401K portfolios which goes nicely with my post on Monday. The Fox piece shows that Enron's not the only company loading up the retirement plans with company stock. Reporters, get out the template and find a sweet retiree who just lost her nest-egg. This is something that might need to be (gasp!!) regulated, and I believe that even more than I did on Monday. “You can't tell me what to do with my money!" Chill, regulating this will protect less-savvy workers from being pressured into loading up the retirement plan with company stock. If we're giving tax breaks to encourage desired behavior like saving for retirement, might we also put a small string attached to require people to diversify?
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