The American Society of Pension Professionals & Actuaries supports the introduction of the Shrinking Emergency Account Losses in 401(k) Savings Act of 2013 in the Senate.

The so-called SEAL Act was introduced March 19 before the U.S. Senate Committee on Health, Education, Labor and Pensions by Senators Nelson, D-Fla., and Enzi, R-Wyo. It would help safeguard the savings American workers have placed in their 401(k) plans by reducing the loss of savings from early hardship withdrawals and 401(k) plan loans outstanding when employment is terminated.

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