Employers are increasingly taking bolder actions to help ensure retirement plan participants achieve greater financial security, such as making changes in plan structure and investments, boosting the employer match and increasing the amount of guidance provided to participants.
But employees aren’t waiting until retirement to use those funds. An AON Hewitt survey reports on the rise of 401(k) loans: almost 30 percent of 401(k) savers today have an outstanding loan against their account. Borrowing against a 401(k) is not usually the best idea.
Our latest white paper, “Financial Freedom: Helping Employees Save for the Future and Live for Today