A 401(k) Is the Best Retirement Plan, Despite Its Inventor’s Doubts

One of my most controversial opinions is that the 401(k) is one of the great financial inventions of the 20th century. It is not a view shared by many people — including, apparently, the inventor himself, Ted Benna, who argues that the 401(k) has mainly benefited the wealthy.

By Allison Schrager