Managing Money :: Hardship 401(k) withdrawals set record in second quarter

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Released: August 22, 2010

Hardship 401(k) withdrawals set record in second quarter

Source: David Pitt, Washington Post (Free Registration)

In the wake of news about a spike in new applications for unemployment benefits comes another potentially troubling sign: A record number of workers made hardship withdrawals from their retirement accounts in the second quarter.

What’s more, the number of workers borrowing from their accounts reached a 10-year high, according to a report issued Friday by Fidelity Investments.

Read Full Article: Hardship 401(k) withdrawals set record in second quarter