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Retirement Planning > Saving for Retirement

Kohl Schedules 401(k) Debit Card Hearing

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The Senate Special Committee on Aging says it will hold a hearing July 16 on the challenges facing efforts to protect Americans’ retirement savings.

The hearing has the title “Saving Smartly for Retirement: Are Americans Being Encouraged to Break Open the Piggy Bank?”

Sen. Herb Kohl, D-Wis., chairman of the committee, will chair the hearing.

The U.S. Securities and Exchange Commission has raised questions in recent weeks about new programs that offer 401(k) plan participants new tools, such as debit cards, for borrowing from their retirement plans.