With 401(k) account balances rising, more employees are wondering how they can get their hands on that money. However, whether it’s from borrowing from their 401(k)s or pulling the money out when they leave jobs, the result is one of the biggest threats to Americans’ retirement savings: leakage. Today’s article notes that, according to one analysis, such leakage “threatens to reduce the wealth in U.S. retirement accounts by about 25% when the lost annual savings are compounded over 30 years.” As such, American companies are taking action to curb this behavior by employees. To read about the steps some are taking, CLICK HERE.
Leakage Problem: How Companies Are Trying To Stop Employees From Raiding Their 401(k)s (And Threatening Their Retirements)
Tags:401kAccount BalanceAnnual SavingsinvestmentmoneyRetirement InvestingRetirement SavingsU.S. Retirement Accounts