401(k) Plans: Issues, Concerns, and Implications on the Future of Retirement in the United States
Date of Defense
Finance and Commercial Law
Dr. Inayat Mangla
Dr. Kenneth Kennedy
In prior centuries in the United States, the retirement security of individuals was entirely the responsibility of the individual and the family. Those who lived to retire often resided in extended families with children and grandchildren who supported them financially. However, in the late 1800s and early 1900s, the United States experienced an explosion in industrial production, a reduction in the number of extended families, and an increase in human life expectancies. With all of these sociological changes taking place, individuals found it more difficult than ever to provide for themselves in retirement.
Rummel, Thomas J., "401(k) Plans: Issues, Concerns, and Implications on the Future of Retirement in the United States" (1997). Honors Theses. 2093.
Honors Thesis-Campus Only