Donate Today

Download A Primer on Key Retirement Security Issues

Savings & Pensions

USA Today - 401(k)s tapped to save homes

Struggling to save their homes from foreclosure, more Americans are raiding their 401(k) retirement accounts to pay their bills — and getting slammed with taxes and penalties in the process, according to retirement plan administrators.

Rather than borrow money from their 401(k) accounts, which would have to be paid back, a growing number of beleaguered families have been cashing out, plan administrators say.

 

Read More » « Back