The 401(k) has come a long way since it was created by Congress in 1978. Today, more than 65 million workers are saving $4.4 trillion in the workplace retirement plans. Charlie Nelson, CEO of retirement and employee benefits for Voya Financial, joined Cheddar on the 401(k)'s 40th anniversary to discuss how far workplace savings has come and how far it still has to go. Too many Americans are still "under-covered, under-served and under-saved," he said. That is especially true for small business workers. Roughly 27 percent of small employers don't have a workplace retirement plan for employees, he said. Nelson said the federal government may need to step in to mandate greater coverage. For full interview [click here](https://cheddar.com/videos/voya-marks-40th-anniversary-of-401-k-at-nyse).

Share:
More In Business
Load More