austin3515 Posted January 16, 2003 Posted January 16, 2003 IS there a place where I can pull a sample participant loan program. For example, a separate written loan program is required in addition to the Plan Document in a Plan I am working with. Can someone recommend a site where such a document can be located? I found this one on reish.com. Any comments? http://www.reish.com/publications/pdf/loan...rogpolicies.pdf If the SPD describes the loan program, do we still need a separate written statement? Looking at the 2002 ERISA Outline Book (page 14.10), it seems as though all of the information I would need is already included. Austin Powers, CPA, QPA, ERPA
Archimage Posted January 17, 2003 Posted January 17, 2003 If I remember correctly, McKay-Hochman's prototype document has it written in the document. They also had a loan policy that could be modified depending on the client. Check with your document provider and maybe they can give you the same thing.
2muchstress Posted January 17, 2003 Posted January 17, 2003 Austin, the one you posted is very similar to what our client's are using.
Alf Posted January 21, 2003 Posted January 21, 2003 If separate from the plan (which yours is), I would think it becomes part of the "plan" and I would not want to have the SPD included in that characterization. Anyway, the SPD should be brief, while the loan program should be much more detailed and legalistic (is that a word?). .
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now