The history of the pension plan in the United States dates back to 1875 when the American Express Company introduced the very first private pension plan for its employees. In these early pension plans retirees received a fixed monthly sum, fully funded by their employer, as explained by the Pension Benefit Guaranty Corporation (PBGC). However, it would take almost a century for the government to step in and provide some much-needed protections for this benefit.
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