This article discusses how the coronavirus pandemic forced many employees to look towards their 401(k) plan in order to borrow cash for personal financial burdens. However. “About 47% of employees who took a retirement loan say they ended up taking more than they needed,” according to research from Voya Financial. Through the years, more and more employees are expecting that they will have to work part-time in retirement because of financial instability. However, as an employer, offering a good retirement plan, using automatic enrollment, and utilizing government programs can all help your employees be in the best possible position when the time comes for retirement. Be sure to check out this link for more information and details!
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