More Americans tapped their defined benefits plan to pay for emergencies as the cost of living soared in 2022, according to a recent Vanguard report. (iStock) The number of Americans who tapped their ...

In the past years, the SECURE Acts have expanded the hardship distribution rules to allow plan participants to take hardship withdrawals for multiple reasons. Additionally, the SECURE Act 2.0 provided ...

The average American’s defined contribution plan retirement savings rate is at an all-time high, according to Vanguard data. Yet at the same time, more Americans are tapping their 401(k)s or similar ...

(NewsNation) — More Americans are raiding their retirement savings to cover emergency expenses, taking early withdrawals from their 401(k)s. A record 4.8% of account holders took hardship withdrawals ...

So, you’ve done a good job of saving for retirement and have a nice balance in your retirement account. Then a problem comes up and you are unable to pay a rather large financial obligation. There ...

Readers have asked us regularly over the last few weeks about penalty-free 401(k) hardship withdrawals. Taking a chunk from their retirement savings would tide them over through the recession, they ...

We've received several e-mails from readers who say they're facing difficult times financially and want to know the status of Obama's pledge to ease penalties for early withdrawals from 401(k) ...