Borrowing from the future ? 401(K) plan loans and loans defaults / Timothy ( Jun ) Lu ... [et al.] .-- , 2017
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Most employers permit 401 (k) plan participants to borrow from their retirement plan assets. Using an administrative dataset tracking over 800 plans fo r five years, we show that 20 percent o f workers borrow at any given time, and almost 40 percent borrow at some point overfive years. Also, workers borrow more when a plan permitsmultiple loans. Ninety percent o f loans are repaid,but 86 percent o f workers who change jobs with a loan default on the outstanding balance. We estimate that $5 billion per year in defaulted plan loans generate federal revenues of l billion annually, more than previously thought.
PLANES DE PENSIONES
FONDOS DE PENSIONES
IMPUESTOS
Lu, Timothy Jun
National tax journalv. 70, n. 1, March 2017, p. 77-110