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Strategies to Help Employers Prevent Plan Leakage
Newport Group 
Mar. 1, 2022 "There are several strategies ... to reduce leakage ... [1] [S]etting a limit on the number of outstanding loans at a time, allowing only one loan per year and setting a minimum loan amount.... [2] [A]llowing only one hardship distribution per year or reducing the sources available for hardship distributions. [3] Offering an emergency savings account associated with payroll deduction to help participants better prepare to manage a financial emergency." |
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