A closer look
Your entire retirement strategy is based on a bureaucratic typo. The US Congress quietly passed section 401(k) in 1978 to limit executive tax perks. A random benefits consultant named Ted Benna realized the vague wording allowed regular employees to defer taxes on stock investments. Corporations eagerly adopted it because it allowed them to completely dismantle expensive, guaranteed pension programs. Now, you are forced to gamble your life savings in the stock market just to afford a nursing home.
