Fundamentals of Private Retirement Plans
Millions of workers participate in private retirement plans. These plans have an enormous social and economic impact on the nation. Retirement benefits increase the economic security of both individuals and families during retirement. Retirement contributions are also an important source of capital funds to the financial markets. These funds are invested in new plants, machinery, equipment, housing developments, shopping centers, and other worthwhile economic investments.
Federal legislation and the Internal Revenue Code have had a great influence on the design and growth of private retirement plans. The Employee Retirement Income Security Act of 1974 (ERISA) established minimum pension standards to protect ...
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