A coalition of groups representing 401(k) participants is lobbying the...

A coalition of groups representing 401(k) participants is lobbying the Senate for a tougher version of pension reform legislation than that passed in the House earlier this year. The Pension Rights Center, the AFL-CIO, the AARP and others want provisions that include limits on plan funds in employer stock; diversification of company stock holdings after three years; independent investment advice; worker representation on the boards of 401(k) plans; and corporate executive accountability for violations of federal pension law, according to a press statement from the coalition.