Welcome to our podcast! Today, we're diving into the fascinating history of the 401(k) retirement plan. In 1981, a financial innovator named Ted Benna introduced the first 401(k), transforming how we save for retirement. This groundbreaking plan allowed companies to contribute tax-free to their employees' retirement accounts, effectively pulling them out of the traditional pension business.

Benna explained, "It was a way to help employees save for their own retirement, putting more responsibility in their hands." This shift not only empowered workers but also changed the landscape of retirement savings in America.

As we explore this pivotal moment in financial history, we also reflect on its ongoing impact today. Join us next time as we continue to uncover more stories that shape our financial lives!
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