401(k) leakage is a big deal

The Treasury and Congress’ Joint Committee on Taxation have provided new estimates of how much. Money is “leaked’ out of 401(k) plans and Individual Retirement Accounts.

Leakages come from three withdrawal sources: cash-outs when participants change jobs, hardship withdrawals, and defaulted plan loans.

The study by the Joint. Committee suggests that age-60 balances are reduced by 31%.

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