His plan has
three parts:
1. Replace
company officials who oversee employee retirement accounts with independent
trustees.
2. Eliminate
the restrictions that prevent employees from selling their shares. Workers
could sell company-owned shares after 60 days.
3. Place a
limit on 401K assets to a maximum of 15 percent in any one stock.
"The successful
passage of this legislation would protect employees from the negligence
of management and provide security for the investment community,"
he said.
Coit's Web
site is https://www.williamcoit.com .
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