e employee's own contributions (McDonnel, 1988).
             The Revenue Act of 1926 was the next historical milestone in retirement plan history, and exempted income of pension trusts from current taxation. This was followed by the Revenue Act of 1928, which gave employers the ability to take tax deductions for amounts paid into qualified trusts that were in excess of the amount needed to fund their current liabilities. All in all, between 1875 and 1929, 421 private-sector pension plans were established in the United States and Canada, with only 28 being discontinued during this period. American companies that were leaders in establishing retirement plans for their employees, included: "Standard Oil of New Jersey (1903); U.S. Steel Corp. (1911); General Electric Co. (1912); American Telephone and Telegraph Co. (1913); Goodyear Tire and Rubber Co. (1915); Bethlehem Steel Co. (1923); American Can Co. (1924); and Eastman Kodak (1929)." (McDonnel, 1988).
             Understanding that Americans needed secure income beyond their employment years, due to the changing nature of the American family and the eco
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