US pension plan adoption has declined from 1975 to 2021

The prevalence of 401(k) plans and IRAs over pensions shifted investment risk from employers to employees

The shift also reduced administrative costs for companies—and left millions without guaranteed retirement income. 401(k) plans were introduced in Section 401(k) of the 1978 Revenue Act, which was originally intended as a loophole for people like executives rather than the average employee.

Pension plans investing over 60% in stocks had the highest real returns in 2024

In order to ensure that retirees received all the retirement funds a company or other institution may have promised them, pensions were often limited to investing in run-of-the-mill assets like government securities, investment-grade bonds, and blue-chip stocks. But as market conditions have evolved, pensions are increasingly being invested in a wider range of assets, including alternative investments.

401(k) plans and pensions differ in who has control over the investments

With pension plans, a company contributes to an investment fund from which it distributes regular payments to a retired worker until their death. A 401(k) gives the worker control over contributions in a tax-advantaged account.

Roughly 70 million Americans have 401(k) plans

Ted Benna, a rural benefits consultant, proposed a reinterpretation of a small tweak to the Internal Revenue Code in 1980. This led to a fundamental transformation of how American workers plan for retirement.

Some multibillion-dollar pension funds depend on hedge funds

Pensions are responsible for safeguarding the retirement plans of many corporate and government employees alike. Pensions differ from 401(k) plans and sometimes rely on alternative assets, like hedge funds, to insulate their portfolios of billions of dollars from volatility in financial markets. Read the case top pension advisor Cambridge Associates makes for hedge funds.

Cash balance pension plans provide the option of a lifetime annuity

Specifically, these defined-benefit plans are retirement plans that differ from traditional pensions in that they can come in one lump sum rather than in monthly payments. These plans are most popular among small business owners and their employees. Learn more about them in this article.

Only half of American workers have retirement accounts at their current jobs

Most American retirement accounts are not nearly funded enough to support people living longer, healthier lives. Get the details on five individuals at different stages of life and hear how they’ve saved—or not—while expert Theresa Ghilarducci explains the current weaknesses of the retirement regime in America.

Researchers, experts, and retirees are finding that the 401(k) has left much to be desired

Baby Boomers, once the biggest generation, are now creating the largest wave of retirees in US history. Much of this generation is also the first to retire predominantly on the expectation that their 401(k) plans or similar tax-advantaged accounts performed well in the markets—which isn’t always the case.

Before Social Security, elderly Americans relied on family support, limited state pensions, or company-sponsored pensions

Before Social Security benefits were available to American retirees, they had to find other ways to get by. Pensions were only available to roughly 15% of workers, and most elderly Americans went without meaningful economic security.

Pensions often must ‘vest’ for an employee to be eligible for them

This means that often, an employee won’t be eligible to receive a full pension benefit from an employer until they have worked at the job for a certain number of years. Specifically, these vesting schedules determine when one owns their employer’s pension contributions. The number of years varies significantly by employer.

A work-free retirement is a relatively recent development in human history

Though it looks different in other countries, economic historians trace retirement's rise in the US to a growth in personal income through pensions, GDP, and Social Security.

State governments have public pensions for their employees

In many US states, these pensions are set aside for teachers, firefighters, and/or other state government workers. However, many of these pensions are currently underfunded. This map provides a visual representation of how strong each US states’ public pensions are.

The financial crisis in 2008 had a major impact on many 401(k) plans

Amid the 2008 financial crisis, stocks and bonds cratered as the broader market floundered due to the subprime mortgage crisis. Investors with so-called "target-date" funds—which shift allocations based on the maturation of a fund—shared in the slump, with some funds declining by 20% or more just a year or two away from maturation.

Those over the age of 55 can buy an annuity with their pension savings

Annuity rates have risen in recent years, making them a more popular financial product, especially as people live longer. But buying an annuity isn’t a spur-of-the-moment decision.

The average retirement age by country, visualized

In the US, the average retirement age was 64 as of 2020. The Organization for Economic Co-operation and Development projects a two-year increase in the average retirement age by the mid-2060s.

Only 3% of workers 18 and older had a 25+ year tenure at their current job as of 2024

Surprisingly, this statistic hasn't changed significantly between 1996 and 2024, despite news about job hopping becoming more common in recent years.

The 1935 Social Security Act drew inspiration from European social insurance models

Many of these, such as German Chancellor Otto von Bismarck's 1889 retirement system, emerged decades before America adopted them. This article dives into the modern history of economic security and the key legislation that created Social Security.

Some politicians have argued that Social Security should be privatized

Specifically, some assert that diverting funds into self-directed retirement accounts should replace Social Security taxes and benefits to some extent in a privatized retirement savings system. This article details the pros and cons of privatizing Social Security.

The scope of 529 plans has expanded, but 529s still have some drawbacks

The tax-advantaged accounts can be used to pay for K-12 education, apprenticeship programs, and student loans, in addition to their original purpose: paying for college. But 529s have downsides, such as fees and penalties for non-qualified uses.

Mutual funds were first created and sold in the US in 1924

Mutual funds were created in 1924, became popular in the '80s and '90s when investors saw a better payoff. Since then, they’ve evolved to be one of the most popular investment options today.

Health savings accounts evolved out of medical savings accounts introduced in the 1990s

After medical savings accounts in Singapore and South Africa proved successful, the US introduced a pilot program for small business owners and the self-employed to pair with high-deductible health plans in 1996. In 2003, Congress passed a law inspired by that program, and health savings accounts became tax-free and open to anyone with a high-deductible plan. FSAs, on the other hand, date back to the 1970s.

Should companies be owned by their workers?

In the last half-century, so-called private equity has transformed industries by purchasing private companies, cutting costs, loading up debt, and then selling the business at a premium—all at a huge profit to the investors. Workers, on the other hand, are often left with nothing. Listen to how both pro-worker economists and a private equity stalwart are trying to shift ownership to workers—a growing tactic proven to improve worker satisfaction and company value.

The National Parks System is a popular attraction in the US

More than 16 billion people have visited the US National Park System since 1904. Curious about how something like World War II affected park visitation? This table of annual recreational visits spans the early 20th century through 2023, demonstrating the slow-but-steady rise in visitors over the decades.

Divorces in the US have been steadily declining over the past few decades

Despite these recent declines, divorce rates in the US remain between 40% and 50%. But there’s some nuance to those numbers. For instance, having a college degree makes individuals 30% less likely to divorce than those without one. People who attend church are also less likely to divorce. And prenuptial agreements are considerably likely to prevent contentious court battles.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Most US House seats stay with the same party for decades

An analysis by the Pew Research Center shows that since the 1920s, the vast majority of House districts have been consistently won by the same party, with only a small share regularly changing hands. This highlights the large advantage incumbents have in House elections.

Roughly 43 million US borrowers owe roughly $1.7T in student debt, the second-largest source of consumer debt behind mortgages.

Despite being favored by 87% of Americans, Congress does not have term limits.

Calculate how much of your tax dollars go to each federal program based on your income, filing status, and number of children

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

The US Constitution is widely regarded as the longest-standing written national constitution still in force—see how it has influenced rights worldwide.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

The American Society of Civil Engineers' infrastructure report card gave the US a C in 2025, its highest grade since the project launched in 1998.

Fireworks-related ER visits are on the rise—in 2024, they increased by 52% as compared to the prior year.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Learn how to read a prospectus, the juicy document that any company must file with the SEC before going public.

Hear about the 250-year history of the United States Postal Service, complete with some of its strangest deliveries, important innovations, and the figures that made it an American institution.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

Some renewable energy sources may weaken the resiliency of electric grids by removing outage buffers provided by coal- and natural gas-fired plants, which provide the system with more time to find a new power source if a plant goes down.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

Listen to an in-depth conversation on the links between Parkinson's disease and herbicide exposure and the challenging pace of scientific investigation.

In 1939, baseball star Lou Gehrig delivered his inspirational 'Luckiest Man' speech after retiring due to the health condition that now bears his name.

Watch contemporary footage covering the US-backed Shah of Iran fleeing the country in the face of the 1979 Iranian Revolution

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

20,000 letters to the advice columnist 'Dear Abby' provide insight into prevailing sex, religion, and LGBTQ fears, anxieties, and concerns from the 1950s onward.

Planarian flatworms are small, aquatic worms with exceptional regenerative capabilities. When cut, the worms can regenerate multiple bodies in a matter of weeks.