The golden age of pensions
The accidental loophole
The great retirement shift
The global retirement landscape
YOUR GOAL
Master of How the 401k took over
marcus The 1940s and 1950s saw massive growth in pension plans driven by labor unions and tax incentives.
marcus Traditional pensions guaranteed a monthly check for life based on salary and years of service.
marcus Trade guaranteed pensions for personal savings to learn how 401(k)s quietly took over retirement.
First US pension: American Express created the first US corporate pension in 1875, but it only applied to workers who were both disabled and had twenty years of service.
A regular payment made by an employer or state to a retired person, typically based on former service and salary. The 1963 collapse of the Studebaker automobile company's retirement fund exposed severe vulnerabilities in these plans.
Which company established the first private corporate pension plan in the United States in 1875?
The collapse of which automobile company's pension plan in 1963 sparked a national outcry over pension security?
What government-created corporation was established by ERISA in 1974 to insure private pension benefits?
Why did corporate pension plans grow rapidly during and immediately after World War II?
By 1960, approximately how many American workers were covered by private pension plans?
Which US President signed the landmark Employee Retirement Income Security Act (ERISA) into law in 1974?