Tip of the Day: Weighing the pros and cons of 401(k) loans, distributions

During the recession, more employees are taking tomorrow's savings to pay for today's needs -- taking 401(k) loans, hardship distributions or cashing out their plans altogether.

EBN legal eagle Frank Palmieri writes this month that while some employers seek to protect employees and only allow loans for limited purposes and others employers even restrict hardship distributions, it's important to understand the basic rules in making business decisions to allow or not allow such distributions. Click here to read his column.