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Coronavirus Hits 401(k) Contributions by Employers, Causes Many Hardship Withdrawals
Financial Advisor
July 6, 2020 "Between the beginning of March and the end of May, more than one in nine employers, 11.8%, decreased or halted their plan contributions, leading to a 11.4% decline in total employer contributions. Yet 7.5% of the employers who had halted or decreased contributions had restored them by the end of May.... [H]ardship withdrawals have been taken from retirement plan accounts at 2.5 times their normal rate[.]" MORE >> |
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