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Loan Repayment Delay


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On ‎5‎/‎15‎/‎2020 at 12:12 PM, thepensionmaven said:

Unclear as to whether the Suspended Loan Repayment Provision would apply to a new loan taken out currently.

thepensionmaven, you talking about the CARES Act suspension? Section 2202(b)(2)(A) says the suspension applies to "an outstanding loan (on or after the date of enactment of this Act)…." That's not ambiguous. A new loan taken out on or after the date of enactment is outstanding the second after it's made.

Luke Bailey

Senior Counsel

Clark Hill PLC

214-651-4572 (O) | LBailey@clarkhill.com

2600 Dallas Parkway Suite 600

Frisco, TX 75034

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Yes.  With ERISA and Code, you're never quite through answering questions. Still waiting for that simplification bill.

Luke Bailey

Senior Counsel

Clark Hill PLC

214-651-4572 (O) | LBailey@clarkhill.com

2600 Dallas Parkway Suite 600

Frisco, TX 75034

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