401(k) Plans: Policy Changes Could Reduce the Long-term Effects of Leakage on Workers' Retirement Savings
Description:
A letter report issued by the Government Accountability Office with an abstract that begins "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. GAO was asked to analyze (1) the incidence, amount, and relative significance of the different forms of 401(k) leakage; (2) how plans inform participants ab…
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Date:
August 28, 2009
Creator:
United States. Government Accountability Office.
Partner:
UNT Libraries Government Documents Department