The golden age of pensions
View / Create
Answer
The accidental loophole
View / Create
Answer
The great retirement shift
View / Create
Answer
The global retirement landscape
View / Create
Answer
YOUR GOAL
Master of How the 401k took over
marcus 401(k) Replaced Pensions
A tax code change, so small and neat, Made old company pensions obsolete.
The accidental inventor: Ted Benna, the creator of the 401(k), has publicly stated he regrets how complex and expensive his creation has become for average everyday savers.
(noun) An employer-sponsored retirement savings plan that allows employees to invest a portion of their earnings before taxes. In 1980, benefits consultant Ted Benna designed the first such plan using an obscure 1978 tax provision.
For which company did consultant Ted Benna first set up a working 401(k) plan after his bank client rejected it?
What key regulatory body issued formal rules in November 1981 that cleared the way for widespread 401(k) adoption?
What did benefit consultant Ted Benna add to his original 401(k) design to encourage employee participation?
Which US politician drafted the original Section 401(k) provision in the Revenue Act of 1978?
Who is widely credited with designing and implementing the first modern 401(k) savings plan?