Witnesses testifying before a House subcommittee that is working to reform 401(k) rules dismissed the idea of limiting the amount of company stock that employees can own in their pension funds, according to a statement released this week by the Committee on Education and the Workforce.

Two such bills have been proposed. Representatives Peter Deutsch (D-Fla.) and Gene Green (D-Texas) have introduced a bill in the House that would limit the amount of employer-issued stock that workers can hold in their retirement plans to no more than 10%. And Senators Barbara Boxer (D-Calif.) and Jon Corzine (D-N.J.) propose a measure that would cap such retirement plan holdings at 20%.

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