Ted Benna, widely recognized as the creator of the modern 401(k) retirement plan, is proposing new approaches to retirement savings to address growing issues within the current financial system. Originally designed to leverage a tax code provision in 1980, the 401(k) has evolved into a complex network of investment vehicles often criticized for high management fees and market volatility. Benna now advocates for simplified, lower-cost retirement models that prioritize fee transparency, stable income generation, and reduced reliance on high-risk market investments for everyday savers.
- Ted Benna created the first 401(k) plan in 1980 by utilizing Section 401(k) of the U.S. Internal Revenue Code.
- Critics and financial experts, including Benna, note that modern plans are often overly complex and carry high administrative fees.
- Newer retirement proposals focus on expanding accessible, simplified savings options, particularly for small business employees.
- Recommended strategies emphasize utilizing low-cost index funds, eliminating debt prior to retirement, and securing predictable income streams.
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Let's stop paying social security to boomers. They have all the wealth already
spacex is the problem
"they have no assets, they have nothing, they have negative wealth and debt". Other bloomberg headlines "Americans richer than ever!" lmfao. no
If you follow the money trail from these retirement plans, it takes money from the worker and their employer, and put it in the stock market with billionaires/hedge funds selling shares and getting the cash. So in a way, the current system siphons money from poor hardworking workers to the afluent class.
you people who are looking for your ONE… look no further… your ONE is ETERNITY… the end meeting the beginning… i want you people to review the articles of FREEDOM
–>> freedom (n.)
Old English freodom "power of self-determination, state of free will; emancipation from slavery, deliverance;" see free (adj.) + -dom. Meaning "exemption from arbitrary or despotic control, civil liberty" is from late 14c. Meaning "possession of particular privileges" is from 1570s. Similar formation in Old Frisian fridom, Dutch vrijdom, Middle Low German vridom.
–>> determine(v.)
late 14c., determinen, "to settle, decide upon; state definitely; fix the bounds of; limit in time or extent," also "come to a firm decision or definite intention" (to do something), from Old French determiner (12c.) and directly from Latin determinare "to enclose, bound, set limits to," from de "off" (see de-) + terminare "to mark the end or boundary," from terminus "end, limit" (see terminus).
–>> The United States' happiness index has dropped to its lowest point in the 2025 World Happiness Report, ranking 24th globally. This decline is linked to several factors, including a sharp increase in loneliness, particularly among young adults, and the rise in "deaths of despair" (from suicide, alcohol, or drug overdose). The country's ranking has fallen significantly since its peak in 2012, when it was 11th.
–>> The United States is home to the largest number of prisoners worldwide. Roughly 1.8 million people were incarcerated in the U.S. at the end of 2023. In China, the estimated prison population totaled to 1.69 million people that year. Other nations had far fewer prisoners. Jan 8, 2024
–>> Mental illnesses are common in the United States, affecting more than one in five adults… In 2021, 57.8 million adults in the United States lived with a mental illness. The most common mental illnesses include: Depression, Anxiety, Bipolar disorder, Schizophrenia, Dementia…
–>> 65% of the people in the United States… have one form or another of a chronic degenerative disease… 45% have two or more of those debilitating diseases…. we have children under the age of 2 developing diabetes…. kids under the age of 12 with fatty liver disease….
–>> Suicide is the tenth leading cause of death in the United States.. On average, there are 129 suicides per day. Suicide is the third leading cause of death for Americans aged 15 to 24…
–>> Suicide is a leading cause of death for young people, but not the third for the specified age range:
For ages 10-14 and 25-34: Suicide is the second leading cause of death.
For ages 15-24: Suicide is the third leading cause of death.
It is important to note that suicide is the second leading cause of death for people ages 10-34.
In 2022, suicide was the 11th leading cause of death overall in the United States.
–>> the Centers for Disease Control and Prevention (CDC) estimates that about 20% of the U.S. population, or roughly one in five people, had a sexually transmitted infection (STI) on any given day in 2018. This translates to an estimated 68 million prevalent STIs. In addition, nearly 26 million new STI infections were acquired in 2018…
–>> In 2022, approximately 79% of U.S. adults were literate, while 21% were illiterate, with 54% of adults having literacy skills below a sixth-grade level. This low literacy has significant economic consequences, costing the U.S. economy an estimated $2.2 trillion annually in lost productivity and earnings.
– Literacy rates: Approximately 79% of U.S. adults are considered literate, while 21% are illiterate.
Skill level: 54% of adults aged 16-74 read at a level below the equivalent of a sixth-grade education.
– Economic impact: Low adult literacy costs the U.S. economy up to $2.2 trillion annually due to lost productivity and earnings.
Health impact: Low literacy also contributes to health care costs, with an estimated $106 billion to $238 billion in yearly health costs linked to these skills.
– Taxpayer cost: Illiteracy costs American taxpayers about $20 billion each year.
–>> In 2022, the U.S. had a higher rate of fatal traffic crashes compared to many other countries, particularly when considering the fatality rate per 100 million vehicle miles traveled. While the U.S. experienced a decrease in traffic fatalities from 2021 to 2022, the overall fatality rate remained high relative to many other nations.
–>> The United States has one of the largest homeless populations in the world,.. with over half a million people experiencing homelessness each night… However, the true number of homeless people in the United States could be 2.5 to 10.2 times greater…
Top 10 U.S. Literacy Rate Statistics… 21% of adults in the US are illiterate in 2022… 54% of adults have a literacy below sixth-grade level
–>> The U.S. has the lowest life expectancy at birth, the highest death rates for avoidable or treatable conditions, the highest maternal and infant mortality, and among the highest suicide rates… The U.S. has the highest rate of people with multiple chronic conditions and an obesity rate nearly twice the OECD average. Jan 31, 2023
–>> encroach(v.)
late 14c., encrochen, "acquire, get," from Old French encrochier "seize, fasten on, hang on (to), cling (to); hang up, suspend," literally "to catch with a hook," from en- "in" (see en- (1)) + croc "hook," from Old Norse krokr "hook" (see crook (n.)). The sense of "seize wrongfully" is by c. 1400; it was extended to "trespass gradually" by 1530s. Related: Encroached; encroaches; encroaching.
–>> A full 90 per cent of the Earth's precious topsoil is likely to be at risk by 2050, according to the UN Food and Agriculture Organization, FAO. In a bid to protect soil globally and help farmers, the FAO warned on Wednesday that the equivalent of one soccer pitch of earth erodes, every five seconds.Jul 27, 2022..
–>> Is the Earth really overpopulated? Yes, for two main reasons. First, people are rapidly displacing wildlife species across the globe, initiating a mass extinction event. Second, we are degrading ecosystems that provide essential, irreplaceable environmental services that future generations will need to live decent lives.
He anticipated it would kill the pension, he got his payout for that.
Low wages is the problem. And then charging interest to use your own money. Let's cut through the double speak. If you don't get at least around 75k with a generous contribution, it would take 20 years to amass enough in savings to have 10% annual gain to have any real benefit.
Retirement accounts were never intended to replace fair compensation. If employees need another specialized retirement vehicle because they can’t afford to contribute to the one they already have, maybe we’re asking retirement plans to solve the wrong problem.
We went so far from the defined benefits plan, I can’t believe employers are shrugging, almost as if to say, how is it that employees can barely afford their rent? What retirement guru past his own retirement age will swoop in to save the common man, with a 10% penalty?
This is a terrible idea. Business puts the money in, and immediately people take it out.
That defeats the entire point. The endpoint is that the money is taken out before you see it and before your income is taxed and business put in a match it’s EASY. the problem is that people cannot afford it, they will spend it on an expensive new phone every couple of years, streaming channels, Starbucks coffee every day ect….
If companies can see a way where they can siphon money from a program, they will. Look at what happened to company pensions.