401(k) accounts are “leaking” due to loan defaults

401(k) accounts are “leaking” due to loan defaults

07/24/12

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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