The vast majority of 401(k) plans allow participants to borrow from their retirement savings account, according to the Plan Sponsor Council of America's most recent industry report.
PSCA's review of 2014 defined contribution plan data shows nearly nine in 10 401(k) plans offer a loan feature, when accounting for all plan sizes.
Among the remaining 10 percent of plans that don't offer a loan feature, nearly all sponsors report that they are considering adopting the feature going forward.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
