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Up until the 1980s, pension plans were a common approach for employers to help employees with retirement. Unfortunately, the investment risks became a bigger burden to carry than many businesses felt they could afford.
Ted Benna, a benefits consultant, however, shrewdly discovered a 1978 tax provision that could replace the investment risk of these pension plans with what became known as 401k plans. In 1981, the IRS affirmed Benna’s creative and shrewd solution, opening the door to a new way of funding retirements plans.
Proverbs 8:11 teaches, “For wisdom is better than jewels, and nothing desirable can equal it. I, wisdom, share a home with shrewdness and have knowledge and discretion.”
Innovative solutions for difficult problems often flow from God through someone with wisdom and a shrewd eye for opportunity.
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