AimPoint Pension
|
Loan & Distribution Specialist AimPoint Pension
|
Bates & Company, Inc.
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Regional Vice President of Sales The Retirement Plan Company
|
Compass
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Wall Streeters Lose $2 Billion in 401(k) Bet on Own Firms
BusinessWeek July 9, 2012
"Wall Street employees, who dispense financial advice to individuals and companies, aren't following a basic investing tenet with their own money: diversification. Workers at the five largest Wall Street banks saw the value of company stock in their 401(k) accounts, sometimes the biggest holding of those plans, decline more than $2 billion last year, according to annual filings. Those losses don't include shares received as bonuses. The 2001 collapse of Enron Corp. led to warnings that tying retirement funds to an employer's stock could be more crippling when a company fails, resulting in the loss of both a nest egg as well as a source of income."
|
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |