Thursday, February 28, 2008

Big Withdrawals In Retirement Funds

Two of the nation’s largest 401(k) stewards saw frightening retirement withdrawals and loans in the fourth quarter. Fidelity Investments, the U.S.’s largest mutual fund provider, said yesterday that 401(k) withdrawals jumped 17% in December, the biggest decrease in the company’s history.
Great-West, which manages 3.5 million retirement accounts, also recently reported a 14% yearly increase in 401(k) withdrawals in 2007.

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