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401(K) TURNS 40
Congress created Section 401(k) of the tax
code in 1978 to give high-earners a tax
advantage. A few years later, it became the
standard vehicle for today’s widely popular
retirement savings accounts for U.S. workers.
is the average
Source: The Motley Fool.
of U.S. employees
work for an organization that sponsors a
of those workers
choose to participate.
of the overall U.S.
workforce is saving in
32% $200,000 is the approximate
account value for
people 65 and older.