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Senate bill aims to make it easier for people to repay money taken from 401(k)s

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Published on Mar 19, 2013

Americans who borrow against their 401(k) retirement plans would have more time to replenish their accounts after leaving a job under a bipartisan proposal reintroduced to the U.S. Senate on March 19, 2013. The Shrinking Emergency Account Losses (SEAL) Act, sponsored by U.S. Sens. Bill Nelson (D-FL) and Mike Enzi (R-WY), would give workers who leave their jobs up until they file their federal taxes to repay money they've taken out of their company's retirement plan.

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