Our daily roundup of retirement news your clients may be thinking about.
How to responsibly raid your retirement account Experts want 401(k) plan administrators to make loan application easier so participants will no longer make withdrawals that will require them to pay penalties and make them lose investment gains and future income, according to this article on Bloomberg. Workers normally pay back their 401(k) loans but people are likely to default on their loans when they become unemployed, based on a report from the ERISA Advisory Council. The council recommends that employers give their former workers more time to pay their 401(k) loans or allow the loans to be rolled over to the next employer's plan.--Bloomberg
Register or login for access to this item and much more
All Bank Investment Consultant content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access