Who created the first 401k plan?
The 401k plan was first created in 1978 as part of the Tax Revenue Act, although it did not become widely used as an investment tool for many years.
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Anonymous wrote on Tue, 12/27/2011 - 08:33:
http://digital.library.unt.edu/ark:/67531/metadc31029/m1/598/
check this link out..
Anonymous wrote on Thu, 12/23/2010 - 17:24:
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 wrote on Thu, 12/23/2010 - 19:53:
Many thanks for the detailed info.
- Tom