Household Borrowing From 401(k) Plans
In order to encourage participation, 401(k) plans increasingly offer loans and withdrawals. This means that more and more families have access to pension funds prior to retirement. The newly released 1998 Survey of Consumer Finances shows that borrowing from pension plans has more than doubled between 1992 and 1998. The problem with using pension funds prior to retirement is the risk that retirement income will be inadequate. The questions are "Why do people borrow" and "What do they do with the money?"
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- Olivia Mitchell, 1999.
"New Trends in Pension Benefit and Retirement Provisions,"
NBER Working Papers
7381, National Bureau of Economic Research, Inc.
- Olivia S. Mitchell, 2000. "New Trends in Pension Benefit and Retirement Provisions," Center for Financial Institutions Working Papers 00-06, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Olivia S. Mitchell, . "New Trends in Pension Benefit and Retirement Provisions," Pension Research Council Working Papers 2000-1, Wharton School Pension Research Council, University of Pennsylvania.
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