401(k) vs pension: why did pensions disappear — and what does that mean for your retirement? In this episode, Wes Cuprill breaks down the shift that changed retirement planning forever.
Most people have never stopped to ask: why does the 401(k) even exist?
You'll learn:

Why corporations abandoned pensions in the 1970s and 80s (and what forced their hand)
How the 401(k) solved a corporate finance problem — by transferring all the risk to you
The four phases of 401(k) evolution: from voluntary enrollment and limited funds to Roth options, automation, and SECURE 2.0
What changed with the Pension Protection Act of 2006 — and why it dramatically increased participation
The real trade-off: more portability and individual control, but far more personal responsibility

The bottom line: the 401(k) didn't just grow in popularity — it replaced an entire retirement model. Understanding how that happened is the first step to using it wisely.

Understanding that history matters. Because when you realize the 401(k) wasn’t designed to be the “perfect” retirement system — it changes how you think about relying on it.

Next episode: Why the 401(k) took off like wildfire… and how it became the backbone of retirement in America.

Chapters:
00:00:00 – Why Defined Benefit Plans Started Failing
00:02:06 – The Revolutionary Benefits of 401k Plans
00:04:01 – The Collapse of Traditional Pension Plans
00:06:06 – Tax Advantages and Automatic Enrollment Changes
00:08:14 – Growth to 14 Trillion in Assets
00:10:03 – Early Problems and the 1990s Improvements
00:12:01 – Roth Accounts and Catch-Up Contributions Added
00:14:04 – Comparing 1980s to Modern 401k Features
00:16:04 – Individual Responsibility and Investment Competence Required