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Hardship Withdrawals Have Increased in Recent Years In 2018, about 2.1% of households with a 401(k) withdrew money to pay for a financial hardship each year. By the middle of 2023, that rate had ...

Though not yet back to 2021’s record highs, contribution rates made modest gains in 2023 as employers and participants contributed more to their plans after pulling back the year before, according to ...

Contributions to 401(k)s made modest gains in 2023 as employers and participants reversed the trend ... At the same time, more participants took a hardship withdrawal in 2023. 5% of participants had a ...

Not all 401(k) plans allow hardship distributions, though. Once you reach age 73, you’ll need to make mandatory taxable withdrawals called required minimum distributions (RMDs) from any pre-tax ...

What does our 2024 research reveal as the highest safe withdrawal rate? For many investors, 4% has traditionally been seen as the ideal retirement withdrawal rate. However, Morningstar researchers ...

A majority of plan sponsors are not planning to add options such as emergency sidecar accounts or employer matching to Roth ...