1978: Congress passed the Revenue Act of 1978, including a provision — Section 401 (k) — that gave employees a tax-free way to defer compensation from bonuses or stock options. The law went …
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A brief history of the 401(k), which changed how …
And that’s not the only thing that’s uncertain when it comes to retirement planning. First of all, investment returns vary. In the last 15 years, we’ve seen 5-year CD interest rates …
People Also Ask how long have 401k plans been around
When did the 401 (k) start?
1978: Congress passed the Revenue Act of 1978, including a provision — Section 401(k) — that gave employees a tax-free way to defer compensation from bonuses or stock options. The law went into effect on January 1, 1980.
How many people have invested in a 401 (k)?
1990: 401 (k) plans held more than $384 billion in assets, with 19 million active participants. 1996: Assets in 401 (k) plans exceeded $1 trillion, with more than 30 million active participants.
Is the 401 (k) plan still a good idea?
Still, while some early proponents of the 401 (k) plan are having second thoughts, there’s no denying that “401 (k)s have experienced tremendous growth, and workers are putting more money in today than ever before,” according to Sarah Holden, senior director of retirement and investor research at ICI, who spoke to The Journal.
Can the 401 (k) replace the old system of Pensions?
Today: 401 (k) plans hold more than $4.8 trillion in assets. And pensions, in the private sector, are increasingly rare. “The great lie is that the 401 (k) was capable of replacing the old system of pensions,” former American Society of Pension Actuaries head Gerald Facciani tells The Journal. “It was oversold.”
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