Fidelity Study Says A Record Number Of Hardship Withdrawls From Retirement Funds Are Taking Place
Posted By thestatedtruth.com on August 20, 2010
We’re sure that everyone has the best intentions to pay these hardship loans back, but…….
AÂ new study by Fidelity says record number of workers tapped their retirement funds and made hardship withdrawals from their accounts in the second quarter.
According to the Fidelity study, “Among the 11 million workers whose 401(k) plans are run by Fidelity, 11 percent took out a loan from their plan during the 12 months ended June 30, the company said, up from 9 percent at the same point a year earlier. By the end of the second quarter, plan participants with loans outstanding against their 401(k) accounts had reached 22 percent versus 20 percent a year earlier.“
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