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The 401(k) Canada Goose Jackets was "invented by accident," as a Morningstar report says. It began its life as a clause inserted in the tax code in 1978 to address the tax status of profit sharing plans. Then it morphed into a savings plan when companies decided to get out of the defined pension business.

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In our recent article on fees we discussed recent studies revealing the true all in cost averages about 1.65 percent and can be over 2 percent in smaller plans (under $2 million in assets).

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