Financially stressed worked likely to draw on retirement plans

Financially stressed worked likely to draw on retirement plans

Source: benefitnews.com

By Nick Otto

Financial stress is taking its toll on employees, causing them to partake in rather risky money behavior: tapping into their 401(k) or other retirement savings in an attempt to get back on track.

More than half of workers (54%) who identify as being financially stressed say they will likely use their retirement funds for expenses other than retirement, according to PwC’s 2018 Employee Financial Wellness Survey, out this week. That’s compared to 33% of their colleagues who say they’re not stressed about finances.

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https://www.benefitnews.com/news/workers-likely-to-draw-on-retirement-plans

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Posted on

October 24, 2018