Benefits News Related to Recent Economic Turmoil

From the Wall Street Journal: What Happens to Your Benefits After Bankruptcy Excerpt from Investors Pull Money Out of Their 401(k)s : T. Rowe Price Group Inc. in Baltimore saw a 14% increase in hardship withdrawals in the first eight…

From the Wall Street Journal:

  • What Happens to Your Benefits After Bankruptcy

  • Excerpt from Investors Pull Money Out of Their 401(k)s :
    T. Rowe Price Group Inc. in Baltimore saw a 14% increase in hardship withdrawals in the first eight months of this year, compared with the same time last year. Boston-based Fidelity Investments says the number of workers with hardship withdrawals rose 7% from April through June, compared with the same time period a year earlier. Principal Financial Group Inc., in Des Moines, Iowa, says that requests for hardship withdrawals are up 5% this year through Sept. 18, over last year, and that the withdrawal amounts are larger.

    From Financial Week:

  • Workers shift loads of retirement savings into fixed-income funds: Market gyrations last week trigger flood of 401(k) money going from equity funds to stable value

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