America’s largest renewable power company is among several U.S. energy and utility companies, including Exxon and Southern Company, that continue to promote big, concentrated bets on company stock in worker retirement plans.
Nearly 50% of the investments in NextEra’s employee-funded 401(k) retirement plan are in company stock, the highest among all 30 companies in the S&P 500 Utilities Sector (.SPLRCU).
NextEra declined to comment on its use of company stock in employee 401(k) plans.
"If we saw a concentration of more than 20% in a single company stock, we would definitely tell them it's a big risk."
`Keith Rasmussen, a retired geologist, said he still feels the financial repercussions of holding big bets on company stock in his retirement plans.
Persons:
Robert Knoche, Yoon, NextEra, ”, Alicia Munnell, Kristin McKenna, McKenna, Ryan Frazier, Keith Rasmussen, jolt, Rasmussen, “, ” Rasmussen, Richard Valdmanis, Anna Driver
Organizations:
REUTERS, Exxon, Southern Company, Corporate America, Enron, Utilities, Vanguard Group, Center for Retirement Research, Boston College, Employees, Silicon Valley Bank, Darrow Wealth Management, SEC, Corporations, U.S . Securities, Exchange Commission, Southern Co, Dominion Energy Inc, Dominion, Chesapeake Energy Corp, Thomson
Locations:
Douglas County , Kansas, U.S, Silicon, Boston, Atlanta , Georgia