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401(k) Participant Loans on the Increase, But Not Always a Good Thing to Do
National Benefit Services, Inc. 
Dec. 7, 2007 Excerpt: Here's an example of the financial impact of a 401(k) loan from T. Rowe Price. Assume that the participant has been making monthly contributions of $264 to his 401(k) account and has been earning annualized return of 8%. Now at age 40, he takes out a loan for $50,000 for 5 years at an interest rate of 7%. His after-tax monthly loan repayment would be $198 and he halts his monthly contributions to the plan. MORE >> |
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