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Andrew G. Biggs in The Hill
May 29, 2017
"In 1947, total savings in employer-sponsored retirement plans equaled 27 percent of gross domestic product (GDP). By 1975, when participation in traditional pension plans peaked, savings had risen to 57 percent of GDP. But in the four decades since 401(k)s were introduced, total retirement savings nearly tripled to 157 percent of GDP."
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