A Brief History of 401(k)s
The evolution of an accident.
I presented in late April at a "Global Retirement Savings Summit," held in Tokyo, on the characteristics of the default funds used by U.S. defined-contribution plans.
Now there's a sentence to chase away readers! However, my tale was much broader than the title suggests. To understand today's default funds requires understanding yesterday's 401(k) plans--and how the defined-contribution industry has evolved over the past 35 years.