We safeguard America’s retirement security by preventing 401k loan defaults

Our mission

RETIREMENT LOAN ERASER “RLE”
RLE, the only 401(k) loan protection program, automatically prevents loan defaults caused by involuntary job loss. RLE is a B2B insurance policy that repays plan loans in the event of a lay-off, disability or death.

Loan defaults hurt retirement readiness.

Research shows that 86% of participants default on their retirement plan loans post-separation, and that leakage from loan defaults is expected to be $2.5 trillion over ten years—representing about $300,000 in lost retirement security to the average participant.

Leakage exposes plan sponsors to fiduciary risk.

Under ERISA, loans must be managed with the same prudence and oversight required of any plan investment. However, loans default at alarming rates, especially when participants lose their jobs. Industry experts believe that 401(k) loan defaults represent a ripening fiduciary jeopardy.

Help employees “keep their balance” with RLE.

When employees lose their jobs, they may not be able to make their loan payments, putting their retirement plans at risk. RLE is an automated, low-cost program that repays an employee’s outstanding loan upon default and restores their 401(k) account in full.