Defining Retirement Plans
1:30
YouTubeGreggU
Defining Retirement Plans
Retirement plans defer income until after employment ends. The first U.S. pension plan was established in 1759 for Presbyterian ministers’ families, and American Express introduced a formal plan in 1875. Pension growth accelerated after the 1921 Revenue Act gave favorable tax treatment, and WWII wage controls further encouraged benefit-based ...
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What Is a Pension? Types of Plans and Taxation
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