401k

Herbert Whitehouse was one of the first in the U.S. to suggest workers use a 401(k). His hope in 1981 was that the retirement-savings plan would supplement a company pension that guaranteed payouts for life.

Thirty-five years later, the former Johnson & Johnson human-resources executive has misgivings about what he helped start.

-Timothy Martin ‘The Champions of the 401(k) Lament the Revolution They Started‘ The Wall Street Journal

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