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: Here’s how Congress wants to combat early withdrawals from retirement accounts

Moving a 401(k) from an old employer to a new one can be a hassle, but it’s better than cashing out the account and potentially losing out on thousands of dollars by the time you retire — not to mention, the extra taxes and penalties you’ll pay.

Americans’ retirement portfolios suffer from “leakage” every year, which is defined as early withdrawals from retirement accounts for reasons outside of retirement. Most retirement accounts require investors to be age 59 1/2 before they’re allowed to take penalty-free distributions,…

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