Senators reintroduce SEAL Act to help 401(k) borrowers

03/19/2013 | AdvisorOne

Two senators have reintroduced the bipartisan Shrinking Emergency Account Losses Act, intended to give workers who take loans from their 401(k) plans more time to repay after leaving a job. "We need to give folks more incentives to continue saving for their retirement," said co-sponsor Sen. Bill Nelson, D-Fla. "Giving them extra time to restore money owed to their 401(k)s is one way we can help cut down on lost retirement savings."

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