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401(k) loans/ leakage

Fiscal trouble ahead for most future retirees

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For the first time since the New Deal, a majority of Americans are headed toward a retirement in which they will be financially worse off than their parents, jeopardizing a long era of improved living standards for the nation’s elderly, according to a growing consensus of new research.

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Rethinking savings plans as struggling Americans raid 401(k)s

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For too many of Vada Lindsey's lower-income clients, their hard-earned 401(k) accounts become go-to emergency funds when they are faced with unexpected cash needs.

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Decline in pension plans leaves many Ohioans unprepared

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Fewer Ohio businesses are offering defined-benefit pension plans, as employers attempt to reduce future funding obligations and shift retirement liabilities to workers.

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Should the 401(k) Be Reformed or Replaced?

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John Greene worked for 30 years at an Oscar Mayer plant in Madison, Wis., deboning hams and loading boxes of hot dogs. His plan grew to $60,000, and soon after retiring he began withdrawing $3,600 a year from it, money that allowed him and his wife to take what he called a wondrous two-week trip to Scotland, his ancestral homeland.

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Annals of dubious research, 401(k) loan-default edition

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Bob Litan, formerly of the Kauffman Foundation and the Brookings Institution, has recently taken up a new job as director of research for Bloomberg Government, where he’s going to have to be transparent and impartial. But one of his last gigs before moving to Bloomberg — a paper on the subject of people borrowing money from their 401(k) accounts — was neither of those things.

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4 Ways to Fix the 401k Mess

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Recently, InvestorPlace Editor Jeff Reeves discussed the plight of older Americans regarding their retirement savings — or lack thereof. He cites an Aon Hewitt report showing that the average 60-year-old has $114,500 in his or her 401k, which provides approximately $4,600 per year over a 25-year period.

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401(k) accounts are "leaking" due to loan defaults

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Most financial advisers say borrowing from your 401(k) retirement account should be a last resort, but 20 to 30 percent of plan participants do so anyway. Since the Great Recession, a growing number of people have been defaulting on those loans, at great cost to their future retirement security.

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Retirement savings raided by 35% of laid-off workers

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The number of displaced workers has risen dramatically since the start of the Great Recession, and this year a third of them had to raid retirement savings to make ends meet.

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Americans borrow heavily from 401(k)s but loan defaults are up

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The default rate on 401(k) loans hit 17.4% in the 12 months through May, compared with 9.7% in mid-2008, before the financial crisis.

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Research Supports Limits on Borrowing from Retirement Plans

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Research from Vanguard bolsters the argument for limiting the number of loans that employees can take from their 401(k) retirement accounts.

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