Hooking up a debit card to your retirement savings may not be the wisest approach when planning for your future.

Legislation introduced yesterday would bar companies from offering such options, which is currently available only through Reserve Solutions in New York City, according to the bill's sponsors.

Representatives for Reserve Solutions were not available for comment.

According to the company's Web site, workers decide how much of their retirement savings they want available for loans.

That amount stays invested in the 401(k) plan until needed. Workers can access the money with a loan card, which is similar to a debit card and can be used at ATMs and merchants nationwide. Checks can also be used to access the money.

The company's site said the plan lets workers limit loans to an exact amount.

"The point is that 401(k) and similar defined contribution plans were created to ensure that people would have adequate savings for retirement, not as a source of credit to use casually," Sen. Herb Kohl, D-Wis., said in a statement. Kohl sponsored the bill with Sen. Charles Schumer, D-N.Y.

Schumer introduced a similar bill in 1996, when Bank One was marketing a 401(k) debit card. Bank One, which was acquired by JPMorganChase in 2004, no longer offers the service.