Some 4.8% of account holders took early withdrawals last year for reasons such as preventing foreclosure and paying medical bills. That is a record high, up from a prior record of 3.6% in 2023 and a prepandemic average of about 2%. The 401(k) has become a rainy-day fund because more employers are automatically enrolling their workers, including people that otherwise have little savings. Congress has also made it easier to use retirement savings for emergencies.