Stafford finds shrinking proportion of labor force with retirement accounts
"U-M Analysis: Fewer Have Retirement Funds, More Raid Them" - CBS - Detroit. 2/6/2013.
Frank Stafford and Thomas Bridges found that over the past decade a smaller percent of Americans initiated retirement accounts and more were dipping into them prior to retiring. Although defined benefit plans restrict pre-retirement withdrawls, other types of now-common options do not. Stafford says: ““If you leave people to their own devices, it’s tempting for them to use this money before they retire... So allowing pre-retirement access to these funds is a problem.” [Full paper.](http://www.mrrc.isr.umich.edu/publications/papers/pdf/wp282.pdf)
Additional Media Coverage:
"More employees are raiding their retirement accounts" - CNN - Fortune. 2/27/2013.