Trends
Warn Your Clients
Sponsors face hard choices about COVID-19 hardship withdrawals.
Reported by PLANADVISER staff
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On the other side of the equation, plan loans were up 12% year-over-year, and hardship withdrawals increased modestly.
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BofA: Hardship Withdrawals Up 36% As More Prioritize Short-Term Needs
Distributions were down and hardship withdrawals were up, though overall saving rates remained steady, according to the bank’s latest participant...