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Join GroupThe Pension Protection Act of 2006 made it easier for companies to enroll employees into a 401(k) plan automatically, encouraging more saving.
The Profit Sharing/401(k) Council of America launches National 401(k) Day to promote the importance of these plans.
For the first time in its 15-year history, assets held in 401(k) plans hit $1 trillion.
The IRS created new rules allowing employees to make tax-deferred salary deductions.
On this day, a new provision in the Revenue Act of 1978 took effect allowing for tax- deferred compensation for bonuses and stock options, clearing the way for 401(k) retirement plans.
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