Late News.(insurance industry business)(Statistical Data Included)

Business Insurance, January, 2002

Bush task force to review 401(k) safeguards In the wake of the loss of more than $1 billion by Enron Corp. 401(k) plan participants, the Bush administration will establish a multiagency task force to develop recommendations to prevent future threats to retirement savings. President Bush said last week that he has asked the secretaries of the Commerce, Labor and Treasury departments to establish a working group to analyze pension rules and to ``come up with recommendations how to reform the system to make sure that people are not exposed to losing their life savings as a result of bankruptcy.'' The initiative comes after a dizzying fall late last year in the price of shares of Enron Corp.

Many plan participants had significant investments in Enron stock....

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.