Workers Call for Savings Assistance in New Report
Many employees are stressed about their finances and are tapping retirement savings to make ends meet, according to a survey...
Tag: 401(k) loans
Fidelity Sees Quarter-on-Quarter Decline in Retirement Balances
The third quarter also saw increases in withdrawals and loans as participants managed expenses amid inflation and higher borrowing costs.
The Potential Impact of 401(k) Loan Default Protection
Research from the Employee Benefit Research Institute shows 401(k) plan loan defaults that occur as a result of job changes...
PLAN DESIGN | Education
A Plan Feature Run Wild
Advisers should tell their clients about the risks of taking plan loans.
Securian Waives COVID-19 and Hardship Withdrawal Fees
The firm is also offering free fiduciary and wellness services to employers.
Ways to Combat Leakage
The Savings Preservation Working Group says that at least 33% and as many as 47% of plan participants withdraw part or all of their retirement savings when switching...
The Case for Automated Emergency Savings Accounts
They are seen as a hedge against retirement plan participants taking loans or hardship withdrawals.
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Addressing Participant Concerns
If a sponsor does not respond, it could risk a civil and/or DOL lawsuit.