Author : Barbara D. Bovbjerg
Publisher : DIANE Publishing
ISBN 13 : 143792316X
Total Pages : 52 pages
Book Rating : 4.4/5 (379 download)
Book Synopsis 401(k) Plans by : Barbara D. Bovbjerg
Download or read book 401(k) Plans written by Barbara D. Bovbjerg and published by DIANE Publishing. This book was released on 2010 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under federal regulations, 401(k) participants may tap into their accrued retirement savings before retirement under certain circumstances, including hardship. This "leakage" from 401(k) accounts can result in a permanent loss of retirement savings. This report analyzes: (1) the incidence, amount, and relative significance of the different forms of 401(k) leakage; (2) how plans inform participants about hardship withdrawal provisions, loan provisions, and options at job separation, including the short- and long-term costs of each; and (3) how various policies may affect the incidence of leakage. To address these matters, the report analyzed federal and 401(k) industry data and interviewed federal officials, pension experts, and plan administrators. Illus.