T. Rowe Price added Advisor Class shares to its Growth Stock Fund. The fund is the eleventh to add shares to add a 25 basis point 12b-1 levy to pay for intermediary distribution at the firm.



Is company stock in 401(k) plans a problem? Employee Benefit Research Institute (EBRI) surveyed benefits professionals on the issue. EBRI reports that 19 percent of all 401(k) assets are invested in company stock. Employees direct 22 percent of their own assets in plans to employer stock when matches are made in cash and 33 percent in plans using stock. The complete report can be found at: http://www.ebri.org/pdfs/iscebs.pdf.



The Severed Enron Employees Coalition (SEEC), a group of some 400, is suing Enron officers, including Kenneth Lay, Jeffrey K. Skilling and Andrew Fastow to recover their lost 401(k) account assets that had been invested in Enron stock. SEEC is also suing Northern Trust Company, the retirement plan's trustee and Arthur Andersen. The law firms representing the plaintiffs include: Whittenburg Whittenburg & Schachter; McClanahan & Clearman; Dies & Hile; Spivey & Ainsworth and Bilzin Sumberg Dunn Baena Price & Axelrod.



Jessie Jackson joined yet more Enron employees who lost their retirement nest egg on a bus trip to Washington. The workers are seeking help paying for mortgages, health care, groceries, children's tuition and other living expenses.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE