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Interest-only loan?


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We have a plan where a participant took out a $50,000 loan many moons ago, and it's set up as only interest payments are due (while he's employed).  Evidently this set up was, at one time, acceptable.

Really?

QKA, QPA, CPC, ERPA

Two wrongs don't make a right, but three rights make a left.

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6 minutes ago, Fiduciary Guidance Counsel said:

Consider checking the transition rules of the Tax Equity and Fiscal Responsibility Act of 1982.

That sounds like it would be fascinating reading...

QKA, QPA, CPC, ERPA

Two wrongs don't make a right, but three rights make a left.

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