Tag: 401(k) loans/ leakage|401(k) plans
401(k) accounts are “leaking” due to loan defaults
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.
