ClintonF

1. I am stumped trying to determine whether a plan that contains this language would be permissible: The amount of the loan is limited to the lesser of $50,000 or 50% of the account value of a date when the loan is issued. This would seem to comply with 72(p) but I don't see many plans phrased this way. Is it incorrect? 2. Also, most plan loan applications request dollar amounts and not percentages. Why is this? Any help appreciated. I went down the rabbit hole on this one!

I am looking for credible sourcing of the percentage of 401(k) plans which claim 404(c) status. Any ideas? I thought an eFast search would get me there but no luck.