To BenefitsLink home page           EmployeeBenefitsJobs.com is where the best employers find the best candidates!

Welcome Guest ( Log In | Register ) · 0 New Messages

 
 Reply to this topicStart new topic
> Family member mortgage
ombskid
post Feb 4 2008, 04:33 PM
Post #1


Registered User


Group: Registered
Posts: 71
Joined: 9-December 05
Member No.: 15,449
Are there any circumstances under which a profit sharing plan can hold the mortgage of the son or daughter (not employees of the sponsor) of the company owner? Is there a residential loan program that allows such a loan in the plan?
Go to the top of the page
 
+Quote Post
QDROphile
post Feb 4 2008, 05:21 PM
Post #2


Registered User


Group: Sitewide Moderator
Posts: 2,411
Joined: 22-August 98
Member No.: 1,246
Did you think through the prohibited transaction issues?
Go to the top of the page
 
+Quote Post
ombskid
post Feb 5 2008, 03:47 PM
Post #3


Registered User


Group: Registered
Posts: 71
Joined: 9-December 05
Member No.: 15,449
Yes I think I'm pretty much aware of the PT rules. I was trying to remember an old exemption for a loan program but I can't find anything about it - so maybe I dreamt it!
Go to the top of the page
 
+Quote Post
« Next Oldest · Retirement Plans in General · Next Newest »
 

Reply to this topicStart new topic

 

Display Mode: Standard · Switch to: Linear+ · Switch to: Outline

Track this topic · Email this topic · Print this topic · Subscribe to this forum

Lo-Fi Version Time is now: 21st November 2009 - 03:26 PM
Powered By IP.Board © 2009  IPS, Inc.
Licensed to: BenefitsLink.com, Inc.