August 15, 2012
Financial launched Protect My 401(k) Loan, a campaign to raise awareness of
401(k) involuntary loan defaults, and introduce a solution. ---
Anchored by a new educational website at www.ProtectMy401kLoan.com,
the campaign strives to educate the general public, media and members of
Congress about the growing problem of involuntary 401(k) loan defaults and a
solution that exists.
According to the firm, Congress is currently debating a bill
that could provide relief to borrowers across the country. H.R. 3656, the
Retirement Savings Security Act, would allow defined contribution plans to enroll
participants into loan life, disability and unemployment insurance or similar
H.R. 3656 encourages plans to auto-enroll participants, who
may opt out or decline coverage, into 401(k) loan protection.
Custodia Financial offers protection for personal financial
resources, including retirement savings loan protection.