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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

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