Over a third of plan participants have taken 401(k) loans and hardship withdrawals, while ESAs provide a no-cost alternative that cuts the likelihood of retirement loans and withdrawals in half.
Sen. Elizabeth Warren's new report, "Cancun, Cruises and Cash," found that "perks and kickbacks" allow fiduciaries to work against the best interests of "Americans who work hard and save for retirement."
The DOL's new Retirement Security Rule, which had been set to become effective Sept. 23, will remain on hold as appeals will be heard by the 5th Circuit, which blocked the previous Obama-era fiduciary rule.