NU Online News Service, March 25, 10:55 a.m. – The Committee on Investment of Employee Benefit Assets, Bethesda, Md., a group that represents managers of the biggest U.S. corporate pension funds, has put out a statement describing what it likes and dislikes about current pension reform proposals now circulating in Congress.

CIEBA opposes requirements that retirement plan boards include participant representatives and measures that would expand plan participants’ ability to sue the plan sponsors.

CIEBA says it welcomes elimination of barriers to offering investment advice to participants.

CIEBA can also accept the following proposals:

Requiring sponsors that make matching contributions in the form of company stock to let employees diversify after as little as three years.

Forbidding senior executives from selling company stock during periods when ordinary members of 401(k) plans are unable to do so for administrative reasons.

Preventing loyal employees from putting too many eggs in their employer’s basket, by prohibiting 401(k) members who get matching contributions in the form of company stock from using their own cash to buy more company stock. This rule would apply to companies where the 401(k) plan was the main retirement plan.