EMPLOYEE BENEFIT FUNDS - PART I - HOW MODERN PENSIONS DEVELOPED
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Companies had pension plans as early as the 1890s. But new laws in the 1920s regulated pensions and defined much of what they are today. These laws let corporations deduct pension plan contributions from their reported income, allowed pension funds to accumulate income tax-free, and deferred taxes until the pension was distributed to the employee. However, pension funding rules were loose, and pensioners had little or no recourse against employer mismanagement.
EMPLOYEE BENEFIT FUNDS - PART I - HOW MODERN PENSIONS DEVELOPED
EMPLOYEE BENEFIT FUNDS - PART I - HOW MODERN…
EMPLOYEE BENEFIT FUNDS - PART I - HOW MODERN PENSIONS DEVELOPED
Companies had pension plans as early as the 1890s. But new laws in the 1920s regulated pensions and defined much of what they are today. These laws let corporations deduct pension plan contributions from their reported income, allowed pension funds to accumulate income tax-free, and deferred taxes until the pension was distributed to the employee. However, pension funding rules were loose, and pensioners had little or no recourse against employer mismanagement.