NAN A. S. HAYWORTH: “But what we do in this bill is address a definite need. This is an example where the House of Representatives responds…”

“But what we do in this bill is address a definite need. This is an example where the House of Representatives responds to a challenge that confronts the American people. It is precisely because of the diversification rights that I would recommend this legislation. Plans would be required to offer at least three investment options other than company stock and to allow employees to change investment options at least quarterly. Employees must have the option of investing their own contributions in any investment option offered by the plan. Employers would be allowed to match in the form of company stock. However, employees would be allowed to sell this stock and diversify into other assets according to a couple of different options, a 3-year service option or a 3-year rolling option. Another concern addressed by this legislation is that it strikes a balance.”