With high inflation and an economy that might be in a recession, it is no shock that hardship distributions are on the rise.<\/p>\n
About 0.5% of employers participating in 401(k) plans made a \u201chardship\u201d withdrawal in October, according to Vanguard. This is a major increase from the 0.3% rate recorded, during the time last year and is the highest level since Vanguard began tracking the data in 2004.<\/p>\n
With inflation booming and a recession that we might be in or going into, means participants need more money. So no shock, that expenses require a hardship.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" With high inflation and an economy that might be in a recession, it is no shock that hardship distributions are on the rise. About 0.5% of employers participating in 401(k) plans made a \u201chardship\u201d withdrawal in October, according to Vanguard. … Continue reading