Workers are tapping into their retirement accounts - Fedweek
A recent report by TransAmerica Center for Retirement Studies found that retirement savers are taking a loan from their 401(k), IRA, or other similar plans while still working. The report did say, “Seventeen percent have taken a loan and paid it back in full, while 8 percent have taken a loan and are paying it back, and 6 percent have taken a loan that they were unable to pay back.” The staff at FEDweek explores how the study did not focus specifically on federal employees; however, the IRA and 401(k) savings programs similar to the TSP show the same pattern of similar types of loans. Read the article here…
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