The Great Recession and the coronavirus pandemic, while remarkably different in origin and impact, represent significant financial hardship for American households. A new EBRI study finds both the share of households reporting individual retirement account (IRA) withdrawals and the average withdrawal-to-balance ratio went up during the 2008–2010 Financial Crisis among IRA owners ages 50 to 70. This suggests that during market downturns, households are more likely to withdraw too much, too fast from their IRA balance. Join us for a webinar that explores this, taking a closer look at the lessons we can apply to today’s challenges, and the impact of waiving Required Minimum Distributions.
Zahra Ebrahimi, Research Associate, Employee Benefit Research Institute
Valerie Radford, Head of Retirement Retail Solutions, Prudential Financial