Search
 

Most don’t borrow from their 401(k) accounts

Fully 87 percent of participants in the 2012 EBRI/ICI 401(k) database were in plans offering loans, but only 21 percent of those eligible for the loans had one outstanding at the end of the year.

By Paula Aven Gladych | Updated on January 22, 2014

Most 401(k) participants won’t take loans from their retirement accounts, even if they have the option.

According to a report by the Employee Benefit Research Institute and the Investment Company Institute, 87 percent of participants in the 2012 EBRI/ICI 401(k) database were in plans offering loans, but only 21 percent of those eligible for the loans had one outstanding at the end of the year.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 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.

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.