We hear,often that people do not take personal responsibility for their retirement…
I read a while back that the average 50 year old only had $50k saved for retirement.
Now you’re proposing a scheme that would let irresponsible people gut their inadequateretirement savings.

Even if your idea were approved you need to account for taxes. Since 401k money is pretax you need to take out extra to pay taxes on it… and depending on what bracket you’re in, it could kick you into a higher tax bracket. It will be taxed at your highest rate.

It just seems like a fiscally irresponsible idea. Just my opinion.