NEW YORK ( TheStreet) -- If you think your company may go bankrupt, more than your job is at risk. Your retirement account may also be in jeopardy. Bureaucratic snags, legal hassles, delayed deposits, frozen accounts and tumbling account balances can all mess up your retirement savings. Here's what to watch out for and what you can do to protect your nest egg if you think your company is failing.
Experts advise keeping no more than 20% of your retirement portfolio in your company's stock, no matter how highflying you think your employer is. If you're already sensing trouble, try to diversify. Thanks to the Pension Act of 2006, companies must allow employees to sell shares received in a matching contribution after three or more years of service. (Used to be some companies required that you hold the stock until retirement.) Check with your benefits department.