Yr info is right but I think it was Proctor & Gamble who got the 1st private-letter ruling in the early or mid-80's. They recognized how the '78 legislation could be molded into the modern 401(k)-type arrangement with deferred employee compensation and the employer delivery of profit-sharing contributions via the employee match.
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Anonymous replied on Permalink
1st 401(k) plan
Tom ~
Yr info is right but I think it was Proctor & Gamble who got the 1st private-letter ruling in the early or mid-80's. They recognized how the '78 legislation could be molded into the modern 401(k)-type arrangement with deferred employee compensation and the employer delivery of profit-sharing contributions via the employee match.
tom replied on Permalink
Perfect
Many thanks for the detailed info.
- Tom
Anonymous replied on Permalink
Congressional Record - prototype for 401k August 25, 1976
http://digital.library.unt.edu/ark:/67531/metadc31029/m1/598/
check this link out..