New virus-era survey shows tapping 401(k)s is 'last resort' for most participants
Despite predictions of massive leaks from retirement plans, so far the news isn't as dire.
By Mike Scarcella |August 20, 2020 at 10:48 AM
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A new survey about how employees are coping with financial strain showed that most respondents were not thinking about or planning to dip into retirement accounts early as an option to make ends meet amid the virus pandemic.
“Understanding how people plan to handle financial strain can help employers provide the right tools to help their employees stay on track,” Empower Retirement said in a paper that detailed the online survey, conducted in April as the novel coronavirus pandemic was causing mass layoffs and furloughs across professional industries.
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