Todays SF Chronicle - 401K stock limit

[NVR FNSH]

Saw an article in today's SF Chronicle that Ted Kennedy's committe will be holding hearings on a bill to limit a person to 20% of their 401K to company stock and that the holding period on the stock would be limited to 90 days. All as a result of the dot com & Enron idiots that have lost 'millions' in retirement funds due to greed and their inability to make a decision for themself. I like the 90 day rule - gives people more 'freedom' to control their funds but the 20% rule is ridiculous. If people are too stupid to determine that diversification (paycheck & retirement funds coming from the same source) is a good thing they deserve what they get. My company 401k company match at AlliedSignal was in company stock - hence, I didn't put any of my own money into company stock.



Gosh, I'm starting to sound like some of you guys



I needed to vent.



Brian

 

[rrl989]

My matching stock was in Grumman Aerospace, and we could purchase as part of the 401 plan as well ( back then $12-$35 share ) We merged at $69 a share with Northrop. Now NorthropGrumman Corp. shares float around $100 share.

We all made out well, I don't call that greed or stupidity. It's a chance you or I take. Tell Ted I'll make my own decisions and lay off the booze !



RonL