ratherbereading Posted March 27, 2015 Posted March 27, 2015 A participant terminated on 2/20/2015. His money is still in the plan. His loan balance as of 2/20/2015 is $1283.33. That was the day the last payment was made on the loan. I am now sending him distribution paperwork. Do I need to accrue the loan interest until his money leaves the plan, or do I use the loan balance of $1283.33 as his outstanding loan balance? Thank you in advance. 4 out of 3 people struggle with math
Lou S. Posted March 27, 2015 Posted March 27, 2015 Interest accrues until the loan is paid off, defaulted or offset.
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