2012-07-19cnn.com

A large number of Americans are borrowing against their 401(k)s and having a hard time paying the loans back.

Defaults on 401(k) loans are draining retirement savings by as much as $37 billion a year, according to a study conducted by Robert Litan, a researcher at the Brookings Institution and Hal Singer, managing director of financial analysis firm Navigant Economics.


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