We are pleased to provide you with the latest edition of the KCS Fireside Chat series.  In this article, Dave Murray, KCS’s DC Practice Leader updates you on some important DC information as you head into 2016.  Hopefully, his insights will help guide you through the balance of this year and into next.

As you know, KCS is a big fan of defined benefit plans for a lot of reasons, but primarily because DC plans (401(k), 403(b) and 457s) were not designed as retirement accounts, and because of loan features act like glorified savings plans.  It is good to see that disclosure is being tightened around one’s ability to take hardship loans.  We realize that emergencies present themselves, but borrowing from a DC account should be the absolute last resort.