You can thank or blame Richard Stanger for writing your 401(k)

Richard Rubin and Margaret Collins Bloomberg News Published Feb 4, 2014 at 11:01PM
Richard Stanger, one of the principal authors of the 401(k) legislation written in 1978. At the time, the 869-word insert was lost in the political heat of limits on tax-deductible three-martini lunches, lower capital gains rates and a bipartisan coalition that was rejecting President Jimmy Carter's proposals. Today, 401(k) is likely the most recognizable number in the Internal Revenue Code. (Victor J. Blue / Bloomberg News).
Richard Stanger, one of the principal authors of the 401(k) legislation written in 1978. (Victor J. Blue / Bloomberg News).