metsfan026 Posted July 12, 2022 Posted July 12, 2022 I have a client who is looking to stop allowing loans as of 10/01/22 (any loans already taken will continue to be paid off). Is that an issue or can the "benefit" be taken away from a participant? Thanks everyone?
Popular Post C. B. Zeller Posted July 12, 2022 Popular Post Posted July 12, 2022 Loans are not a protected benefit, and eliminating the availability of loans is not a prohibited cutback. 1.411(d)-4(d)(4) acm_acm, ESOPMomma, ugueth and 4 others 7 Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
metsfan026 Posted July 12, 2022 Author Posted July 12, 2022 9 minutes ago, C. B. Zeller said: Loans are not a protected benefit, and eliminating the availability of loans is not a prohibited cutback. 1.411(d)-4(d)(4) That's what I thought, just wanted to confirm. Thanks!
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