Employers should help employees avoid 401(k) cash outs

Employers should help employees avoid taking cash out of their 401(k) plans due to financial stresses from the novel coronavirus pandemic, says Retirement Clearinghouse CEO Spencer Williams. A 30-year-old who cashes out a $5,000 balance in a 401(k) now would forfeit up to $52,000 in earnings by age 65, Williams said.

Full Story: Employee Benefit Adviser (free registration) (4/23)