Tom Foster | Source | AVP & National Spokesperson at MassMutual Financial Group
Tom Foster
AVP & National Spokesperson at MassMutual Financial Group
and 1 other company
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Whether an individual is taking out a loan or a hardship withdrawal, those leakages set their final retirement nest egg back by 14% on average.
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Assessing Likely Impacts of IRS Hardship Withdrawal Rule Changes | PLANADVISER
New rules established by Congress and the IRS simplify the process for participants to request a hardship withdrawal of DC plan assets; some experts say this could increase “leakage,” while others anticipate more positive effects, such as lower debt among cash-strapped participants.
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MassMutual
National Spokesperson, Retirement Plans -
MassMutual Financial Group (https://www.massmutual.com)
AVP & National Spokesperson
started Jan 2013