That was the intention... instead, some companies
Posted on: May 15, 2019 at 10:33:56 CT
Spanky KU
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dropped retirement plans because....well.... Social Security.
What did Congress do? Created 401k plans to help people save for retirement. What did the vast majority of companies do in response? Dropped the last of the company retirement programs and replaced them with a 'company match' of their 401k contributions.
The result? Very few put money in their personal retirement accounts and they think SS is their retirement plan.