There’s a reason why 401(k) plans took off in popularity in the 1980s.
Sure, you could say it was because of the increased tax benefits for both employees and employers. And, yes, you can also point to how they enabled people to save for retirement at a faster rate than they could in IRAs. Plus, there was free money in the company match! Nope.
All those reasons might be good, but they don’t explain the sudden jolt in popularity of what would normally be considered just another employee benefit.
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