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401(k) Plan Loans: Balancing Fiduciary Concerns, Retirement Outcomes and Employee Perceptions
Bruce Ashton in 401(k) Fridays Link to more items from this source
Aug. 20, 2019

"[H]ardships are a worse alternative because at least a loan can be repaid, whereas a hardship distribution represents permanent leakage.... [K]eep the plan loan provision, make it as flexible as possible in terms of repayment after termination of employment, try to educate participants on using participant loans responsibly, but ... require loan insurance to at least plug the hole that's caused by an unexpected, involuntary termination."

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