Guest mjb Posted May 22, 2007 Posted May 22, 2007 Why are your asking this abstract question of board members who have no knowledge of the plan? You should ask the plan administrator whether loans are allowed.
JanetM Posted May 22, 2007 Posted May 22, 2007 Get the SPD for the plan and look it up. Without specific information we can't begin to answer your question. JanetM CPA, MBA
Guest John J Posted May 23, 2007 Posted May 23, 2007 The plan adminstartor was allowing D.R.O.P loans until recently when some members of the board of trustees said they were not legal.
Guest mjb Posted May 23, 2007 Posted May 23, 2007 Why not ask the trustees what was the legal basis for stopping loans. It could be for many reasons including plan did not allow loans.
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