An Update On 401(K) Plans In The United States

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John J. Lucas



Today, 401(k) plans have become one of the most popular retirement savings programs offered by corporate America.  With their enormous popularity, 401(k) plans have experienced spectacular growth and expansion since their creation under the Revenue Act of 1978.  It is estimated that there are 423,000 401(k) plans in the United States with an estimated 1.8 trillion dollars in assets. (EBRI Facts, 2005)  This paper traces the creation and establishment of 401(k) plans in the United States.  A discussion pertaining to the recently passed Pension Protection Act of 2006 and its major changes regarding 401(k) plans will also be provided in order to assist business leaders in continuing to offer this very popular retirement program.


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