As lawmakers debate possible reforms to 401(k) rules in the wake of Enron's financial collapse, Ted Benna, who launched the first 401(k) more than two decades ago, has suggested that workers be barred from spending their own money on stock in their companies.

Benna says Enron's employees lost millions when their company became the largest in the nation's history to declare bankruptcy partly because they had spent too much of their own money on Enron stock and failed to diversify their retirement portfolios.

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