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Benna's simple idea has been repeated 640,000 times since he convinced his company to start the first 401(k) plan. (Photo: iStock)

Ted Benna immediately knew he had discovered something of value when he finished reviewing the IRS regulations that fateful weekend in 1980. And, although the client he was doing the analysis for rejected the idea, his own firm, The Johnson Companies, didn’t and the first 401(k) savings plan with matching employer contributions and employee deferrals became effective January 1, 1981.

Christopher Carosa

BenefitsPRO

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