President Bush today proposed changes to 401(k) rules that would allow workers more control over their retirement plans. The proposal comes in the wake of the financial collapse of Enron, the energy trading company that had close ties to the Bush administration and is now under investigation by the Justice Department.

Enron’s employees lost millions when the company declared bankruptcy, mainly because their retirement plans were weighted heavily with Enron stock and they were not allowed to immediately sell it.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.