Ann L. Combs, assistant secretary of labor, Pension and Welfare Benefits Administration, said a limitation on company stock in 401(k) plans as some members of Congress have proposed in the wake of Enron Corp.s collapse might not make sense.
"Philosophically, individuals need to have information and need to have flexibility to invest retirement accounts in ways that make sense to them, she said in a teleconference today.
"There are administrative problems, she said, to such limitations, including what happens when the stock in a participants account exceeds 10% of total assets. She wondered if the participant would be forced to sell at a market price he or she doesnt like.
The presidential task force is still working on its recommendations, Ms. Combs said.