Unemployment and 401ks

AON Hewitt Consulting has a report (see here) that looks at "leakage" (taking loans) from peoples' 401k plans.  The findings are troubling and just another piece of empirical evidence demonstrating the toll that high unemployment takes.  Below is a graph from the report.

The report states:

When employees with loans terminate employment, nearly 70% subsequently default on the repayment. Among participants in their 20s, the default percentage jumps to nearly 80%. In contrast, on average, active employees default on their loans less than 3% of the time.