hardship withdrawals

Increasing 401(k) Balances Can Bring Increased Stress
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
By the second quarter of this year, the number of “401(k) millionaires” rose 2.5% from Q1, marking a record high according to Fidelity. At the same time, retirement savers overall experienced three consecutive quarters of growth — and that’s good news for many investors. However, a Vanguard analysis of its plans also shows a concerning  Read More →
Surging Credit Card Debt: Strategies for Employers to Help Bolster Retirement Readiness
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
With U.S. credit card debt recently soaring to a record high of $1.08 trillion, employers face a pivotal moment. This staggering amount, a $48 billion escalation since the second quarter and a $154 billion increase year-over-year, is a cautionary signal for Americans’ financial stability. The compounding pressures of post-pandemic recovery and inflation have pushed household  Read More →

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