Do you have a 401(k) loan program? What trends have you seen? Share your thoughts in the comments. —Andrea Davis, Managing Editor

A significant component of retirement readiness is protecting participants from themselves. Many recent studies have shown that major obstacles to employee attainment of retirement readiness include the loss of account balances due to loan defaults and hardship withdrawals. This account leakage can be reduced by a well-managed participant loan program. A state-of-the-art loan program has the following characteristics:

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