The recent collapse in the value of Bear Stearns shares has led to new interest in the role of stock in 401(k) plans, says a note from the Employee Benefit Research Institute.

A recent study by the organization finds that the average holdings of company stock in 401(k) plans amounted to 11% of total assets in 2006, down from 19% 10 years earlier.

There is also a significant variation in company stock holdings. Of those in plans with company stock as an option, 7.3% of 401(k) participants have 90% or more of their 401(k) assets in company stock, while 44.5% have no stock at all.

Among recently hired 401(k) participants in plans that offer the option, 42% had company stock in their accounts—down from 60% in 1998.

Last week, a law firm said it was investigating possible illegal conduct relating to the Bear Stearns employee stock ownership, profit sharing and deferred compensation plans

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