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The Fiduciary Underpinnings of Plan Loans
Business of Benefits Link to more items from this source
Dec. 9, 2016
"It is easy to forget that the fiduciary's exclusive obligation is to provide retirement income from these plans. ERISA is pretty clear that even 401(k) plans and 403(b) plans are actually meant to provide retirement income.... Loans, however, are really a necessary part of retirement plans. Without that sort of access, many employees would shy away from making deferrals, which also undermines retirement readiness. But there remains this tension between the exclusive obligation to protect the ability to provide the retirement benefit, and the practical demand to have a loan program."

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