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401k plans are arguably the bet
government-sanctioned, tax-deferred retirement savings opportunities in
the United States; their numbers have grown commensurably since their
institution by congress in 1978. One estimate, by CHALK 401(k) Advisory
Board, Inc., places the number of qualified 401(k) plans in 1997 (the
last year surveyed) at 225,000 and the number of participants in those
plans at approximately 28 million; the Investment Company Institute (ICI)
estimates 36.7 million participants in 1998. New plans continue to grow
in number at an annual rate of more than 14% (U.S. Department of Labor). |
