Ep. 2: It Sings, But Will it Sail? The Birth of the 401(k)
An in-depth look at the 401(k), with Ted Benna, father of the 401(k), and Richard Stanger, author of the insert to the US tax code that changed retirement.
PGIM does not establish or operate pension plans.
The success of the creation and implementation of the employer based 401(k) and other defined contribution retirement plans is seen not only in its exponential growth in all measurable metrics but also in the fact that it has succeeded in helping millions of Americans retire well. That said, the system, as it’s designed and operating today, is far from perfect, stranding some without access to the tools of a comfortable retirement and discouraging attempts at innovation.
In this episode, host Josh Cohen asks respected industry leaders to grade the system on four crucial factors of success: Access, Adequacy, Alignment, and Innovation.
Host Josh Cohen and Lori Lucas, the President & CEO of the Employee Benefit Research Institute (EBRI), attended the 2021 DCI Retirement Income Symposium. Lori, a featured guest on Ep. 3, joined Josh to discuss the evolution of the employer-based system, what’s working, and areas of improvement.
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