Why It’s Time to Retire the 401(k) – Part 2

A Brief History of the 401(k)
 
Congress was trying to close a loophole on executive bonuses when it created the 401(k). Most companies intended 401(k)s — which were originally called salary-reduction plans but then renamed for the portion of the tax code that makes them possible — to be a perk for highly paid executives, not [...]