Some Companies Are Offering “Financial Wellness Programs” to Employees
Nicole Dieker
7013

As a former loan originator, many people took loans against their 401(k) for downpayment/closing costs. Often it was a calculation of where was the cheaper interest rate- in the loan or in the 401(k).

It’s a particularly nefarious system because you cannot leave your employer with an open 401(k) loan, you have to pay it off first.

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