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Showing content with the highest reputation on 10/29/2016 in all forums
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I believe the plan sponsor would be alright with the fee paid at the same time as the first loan payment. I suppose if the employee terminated immediately after receiving the loan, then they would not make any loan payments or pay the fee. I could put in the loan agreement that the fee would be paid at the same time as the first payment. Maybe asking the participant to write a check to the plan sponsor would work better.1 point
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