Guest jgarner Posted October 17, 2005 Report Share Posted October 17, 2005 Is it legal for a Participant to use their vested plan balance from a 401a Defined Contribution Plan as collateral on a promissory note? Link to comment Share on other sites More sharing options...
QDROphile Posted October 17, 2005 Report Share Posted October 17, 2005 Government plans are not subject to ERISA or section 401(a)(13), but who would take the collateral? There is a good chance that state law makes the plan benefit nonassignable, or the plan might not recognize the assignment. Link to comment Share on other sites More sharing options...
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