Compass
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AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Loan & Distribution Specialist AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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Bates & Company, Inc.
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Coming Employer Crackdown on 401(k) Loans?
Forbes; subscription may be required July 15, 2013
"Out of the 12.3 million employees in Fidelity plans, one out of every five 401(k) plan participants has a loan outstanding, and one in nine took a new loan in the past year, with an average loan amount of $9,000, while 2.3% of participants took hardship withdrawals.... [H]alf of borrowers take more than one loan, and ... the likelihood of taking a hardship withdrawal rises dramatically among multiple borrowers (climbing steadily from 6% for those who have taken one loan to 27% for those who have taken 7 loans)."
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