Talk about a living legend brimming with institutional knowledge.

Ted Benna is the brains behind the entire mass-market mutual fund industry. While working as a tax accounting executive for the Johnson Cos. in the 1970s, a section of the IRS tax code about qualified retirement savings caught Benna's attention.

Without this 401(k) contribution spigot turned on in 1978, mutual funds would have remained investment vehicles for the very wealthy, and the hedge fund industry wouldn't have developed into one serving the ultra-high-net-worth.

Benna, known as the "Father of the 401(k)," and currently president of the 401(k) Association and chief operating officer of Malvern Benefits Corp., has been honored by numerous news outlets, including Money magazine, The Wall Street Journal and Defined Contribution News.

Please see "An Historical Persepective on the 401(k)", a special bylined contribution from Ted Benna.

(c) 2008 Money Management Executive and SourceMedia, Inc. All Rights Reserved.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.