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The Employee Ownership Update

Corey Rosen

August 4, 2006

(Corey Rosen)

Congress Passes Pension Reform Bill

On July 28, Congress passed the pension reform bill as approved by a House-Senate conference committee. If the bill is signed by the President, employee ownership plans will be affected in a number of ways, as outlined below.

Among the many provisions in its 907 pages, the bill provides rules that allow companies to provide outside investment advice for 401(k) plan participants and to allow for automatic enrollment with an "opt-out" provision for 401(k) and similar plans.

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