The father of the 401(k)

cbsnews.com/video/the-father-of-the-401k

In 1981, Ted Benna created the first 401(k) plan, which allowed corporations to contribute, tax-free, to workers' retirement accounts. That allowed companies to get out of the pension business, but gave employees more responsibility over their retirement funds. "Sunday Morning"…

This story appeared on cbsnews.com, 2025-08-03 13:40:00.
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