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Loan from Rollover before becoming participant?
Bill Presson reacted to JackS for a topic
This language is in the Corbel Document 7.6 LOANS TO PARTICIPANTS ....For purposes of this Section, the term Participant shall include any Eligible Employee who is not yet a Participant, if, pursuant to the Adoption Agreement, "rollovers" are permitted to be accepted from Eligible Employees. I think in absence of specific plan language, the plan administrator could interpret it either way. You would probably want to clarify it in the plan loan policy.1 point
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