Browsing Tag
401(k) Hardship Withdrawal
38 posts
Despite Pandemic, Average 401k Account Balance at Bank of America in 2020 Topped…
UPDATE – Follow this link for the results of the 2022 Financial Life Benefits Impact Report. Most American…
By the Numbers: 401(k) Plan CARES Act Activity
CARES Act distributions 2020 show participant trends, with most staying invested and only 6% taking coronavirus-related withdrawals.
Poll Finds One-Third Raided Retirement Accounts During Pandemic
EDITOR’S NOTE: The following article contains an important survey correction provided by Kiplinger’s Personal Finance. The survey found one-third…
IRS Expands 401k Withdrawal, Loan Eligibility Under CARES Act
The Internal Revenue Service is making it easier (again) to access 401ks for loans and withdrawals. Released Friday,…
Pandemic Prompts Americans to Sharpen Financial Focus
One in 10 people have dipped into their retirement accounts and one in 20 have postponed retirement in…
Study Reveals Spike in Early Retirement Withdrawals Among Young Investors
Nearly three out of five (59%) Gen Z and Millennial investors said they have withdrawn early from their…
Few DC Plan Participants Withdrew Funds in 2019, ICI Finds
Only 3.9% of defined contribution plan participants withdrew money from their accounts in 2019, according to the Investment Company Institute.
How Are 401(k) Recordkeepers Reacting to All That’s Happening?
The SPARK Institute wondered how its members were responding to the crisis and implementation of the CARES Act—so…
11 Financial Steps to Help in the Coronavirus Pandemic
While early withdrawals from a retirement account are normally frowned upon, but special circumstances sometimes require special needs.…
401k Participants Stay the Course Despite Market Volatility
Financial advisors have been urging 401k investors to sit tight and ride out the COVID-19 market volatility, and…