The average 401(k) balance skyrocketed nearly 32% in 2009 more than making up for the massive losses of 2008.

But more participants took loans against their 401(k)s - a dangerous trend that could lead to a decrease in retirement savings, according to a report released on Monday by the Employee Benefit Research Institute (EBRI) and the Investment Company Institute (ICI) analyzing a group of consistent participants.

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