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Showing results for tags '401(k) loan'.
Found 3 results
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I think this is correct, but as a sanity check since it seems harder than expect to find authority on this - if a 401(k) plan is frozen, it's still permissible for participants to take out new loans and hardship withdrawals, correct?
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I am a corporate benefit manager. My 401(k) provider, a large well known mutual fund company, informed me that the IRS no longer permits participants to re-amortize their 401(k) loan. That's news to me; did I miss something? I through a participant could reamortize their (non-principal residence) 401(k) loan as long as they did not extend beyond 5-years from the loan originanation date. Has anybody heard anything that can shed some light on that subject for me? S
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Does anyone know if there are any provisions stopping a participant from taking out a 401k loan to purchase a property abroad if they provide a purchase contract? I have a participant wanting to purchase a property in Poland. Thanks for the help!
