GAO Proposes Changes to 401(k) Hardship Withdrawal Rule (Financial Planning.com)

Noting that 15% of 401(k) participants have engaged in some form of “leakage,” that is, hardship withdrawals from their plans or failure to roll the money over when changing jobs, between 1998 and 2006, the Government Accountability Office is recommending that Congress eliminate the ban on additional contributions for six months by those who make such withdrawals.

Originally posted here:
GAO Proposes Changes to 401(k) Hardship Withdrawal Rule (Financial Planning.com)

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