Employees dipping into their 401(k) plans to meet immediate financial needs is a problem that continues to go ignored by employers, says Financial Advisor Magazine.
So said the Consumer Financial Protection Bureau in a report this week. Writing about the report, Financial Advisor Magazine noted that 401(k) dipping was among the worst employee financial practices that many companies simply ignore. Doing so is both a disservice to the employee and an added cost to the employer, the bureau advised.
See also: Employees struggle with financial health
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.