DTH Posted August 6, 2002 Posted August 6, 2002 The current SPD indicates that participants can have two outstanding loans. Would changing the number of outstanding loans the plan allows (i.e., from two to one) require an SMM? If not, is there any requirement to disclose the change to participants?
alanm Posted August 6, 2002 Posted August 6, 2002 You would have to give participants notice of the amended loan policy. Those with two loans would be grandfathered.
DTH Posted August 6, 2002 Author Posted August 6, 2002 Any timing around the notice to change the loan policy?
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