What You Always Wanted to Know About Participant Loans But Were Afraid to Ask

ASPPA [American Society of Pension Professionals & Actuaries]

Take a deep dive into the administration of participant loans with ERISA attorney, Brooke Cozort. Although Brooke is now an ERISA attorney, she was previously an administrator at a TPA firm and experienced her fair share of loan withdrawals, loan repayments, and loan corrections. During this session, Brooke will assist those new to the industry understand the rules surrounding participant loans and will assist those familiar with the industry identify how to correct participant loans gone awry. 

Learning Objectives:

• Clearly understand the elements of a participant loan, as defined by the Internal Revenue Code, including the requirements for initial loans and refinanced loans.
• Identify the timing of a loan default and cure period
• Consider what happens when participant loans fail to satisfy the Code requirements and what steps to take to correct them

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