Retirement Research Consortium and NBER
September 2010
Abstract
We find that 401(k) loan utilization is related to the types of loan features adopted by firms. 401(k) loan utilization is higher in plans that have lower minimum loan amounts and in plans that allow employees to take out multiple loans. 401(k) loan utilization is lower in plans that have higher loan interest rates.
Citation
John Beshears, James J. Choi, David Laibson, and Brigitte C. Madrian. "The Availability and Utilization of 401(k) Loans." Retirement Research Consortium and NBER, September 2010.