The president’s proposal would allow employees to sell the corporate stock that their company contributes to their 401(k) after just three years, preventing firms from requiring that employees hold the stock for extended periods of time.
Republican leaders praised the plan. Democratic leaders maintained that it did not go far enough to protect employees. Some Democrats would like to ban workers from having any more than 20% of their 401(k) in the stock of their own company.
Publication date: 02/04/2002