In a policy paper delivered to Congressional staff members involved with the pending legislation, CIEBA urged lawmakers not to create a new regulatory system or add costs to plan sponsors or participants.
Among the pension reform items supported in the CIEBA position paper are those that:
- allow retirement plan participants to diversify company stock received as a match after three years,
- prohibit employer stock as an option for elective deferrals if matching contributions are required to be in company stock, when the 401(k) plan is the primary retirement vehicle for participants,
- require 30-days notice before any blackout,
- limit senior executives’ ability to sell company stock during blackouts, and
- make it easier to provide investment advice to participants
On the other hand, CIEBA opposed proposals that require participant representation on retirement plan boards and expand legal remedies against plan sponsors.
Read the full text of the white paper .
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