jane123 Posted March 21, 2003 Posted March 21, 2003 Account owner has balance of $10,000 Loan balabce of $2,000 wants to close account. Can the participant use funds from the account balance to pay of the loan, if he has a triggering event? Thanks Jane
four01kman Posted March 21, 2003 Posted March 21, 2003 I think the quick answer is no. The loan either has to be repaid prior to distribution or deemed distributed. Jim Geld
E as in ERISA Posted March 21, 2003 Posted March 21, 2003 What does the plan say about in-service distributions and offsets?
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