TITLE

401(k) Plan Turns 25…

PUB. DATE
January 2007
SOURCE
Journal of Financial Planning;Jan2007, Vol. 20 Issue 1, p12
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article reports that the 401(k) retirement plan celebrated its 25th anniversary in November 2006. Between the plan's conception and 2006 it became a huge part of many people's retirement plans. The Investment Company Institute compared the plan in its early days to its current status. In 1981, 30 million workers participated in private-sector, defined-benefit pension plans, with few utilizing 401(k)s, while in 2006, 47 million workers participated in 401(k)s, with enrollment in defined-benefit pension plans falling greatly.
ACCESSION #
23722757

 

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