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401(k) Pension Plans: Loan Provisions Enhance Participation But May Affect Income Security for Some

HEHS-98-5 Published: Oct 01, 1997. Publicly Released: Oct 01, 1997.
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Highlights

Pursuant to a congressional request, GAO: (1) determined the effects of pension-plan borrowing on participation in and contributions to 401(k) pension plans; (2) described the demographic and economic characteristics of workers who borrow from their pension accounts; and (3) identified the potential consequences for participants who borrow from their pension accounts.

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African AmericansDisadvantaged personsEmployee benefit plansEmployee retirement plansHispanic AmericansIndividual retirement accountsLoan interest ratesLoansMandatory retirementPensionsSocial security benefitsTax lawRetirement income