12/4/2014 – The 401(k) Killed Off Pensions (Bloomberg)

Dec 05, 2014 Comments Off by

“There was absolutely no discussion in ’78 that if you do this, the world is going to change,” recalls Carter-era Treasury official Daniel Halperin of the 869-word provision in the tax code that created a $4.4 trillion pool of retirement savings. According to the Investment Company Institute, 18 percent of all retirement assets are held in 401(k)s, the third-largest stash behind IRAs and government pensions.

Read the full article at Bloomberg Businessweek.

Financial Landing 2014

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