This year, a lot of hot air is circulating in Washington about the problem of 401(k) leakage.

Sen. Tom Harkin, D-Iowa, chairman of the Senate Health, Education, Labor and Pensions Committee, advocates proposed legislation to create USA Retirement Funds, which would guarantee a lifetime income by merging defined benefit options into 401(k)s.

Sens. Bill Nelson, D-Fla., and Mike Enzi, R-Wyo., have re-introduced their SEAL Act, which would lessen the potential damage to retirement savings caused by taking loans and hardship withdrawals.

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