Thursday November 14, 2019
12 - 1 pm E.T.
WEBINAR
What 401(k) borrowers can add to the loan conversation
MISSING VOICES:
New Greenwald & Associates research shows nearly 80% of participants find loan insurance appealing
The Voice of
the Participant
Thursday, November 14, 2019
12 - 1 pm ET
WEBINAR
MISSING VOICES:
What 401(k) borrowers can add to the loan conversation
New Greenwald & Associates research shows nearly 80% of participants find loan insurance appealing
The Voice of the Participant
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.
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.
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.
