When large companies announce layoffs, what is often missed in the news is the true cost of 401k loan defaults by those employees affected.
The U.S. may have just reached the longest economic expansion on record, but the news underneath the headline numbers is not all about growth.
This year, we’ve seen some evidence that, after a period of uptick during and after the financial crisis, loan activity in 401(k) plans has subsided
In their latest “How America Saves” report, Vanguard highlights that only 4% of participants terminating with an outstanding loan are using ACH repayment. Some in
Deloitte projected over $2 trillion will leak out of 401(k) plans due to loan defaults over the next 10 years. Custodia Financial has announced an expansion of