Guest CMC9 Posted September 17, 2001 Posted September 17, 2001 Question: If an employee is called to active military duty and has an outstanding loan in his 401k, what are the ramifications? Do we just pick up where they left off when they return to work (assuming they do return)? Is there any time frame? (i.e.- in the case of a normal LOA, if they return within the quarter and make a loan payment, the loan will not be defaulted.) Also, are there any other special considerations re: Benefits for military leave?
R. Butler Posted September 18, 2001 Posted September 18, 2001 There is a loan deferrment avaiable for military service. See IRC 414(u).
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