Eliminating participant loans from a plan

Just looking for confirmation, but a participant loan program in a 401(k) plan can be eliminated as loans are not considered a protected benefit.  Does eliminating the availability of new loans apply to all participants, or just to terminated participants and/or newly eligible participants?

Thank you

The plan makes loans to terminated participants?

No, terminated participants cannot take loans from this plan (we don't have any that would allow for this) but I think that plans can allow loans to terminees.  My question centers on whether the plan sponsor can eliminate the loan feature for all participants or just to eliminate it for terminated participants or newly eligible participants.

Thank you

The plan can eliminate loans for all participants, even current participants, at any time. As you say it is not a protected benefit under 411(d)(6).

If you eliminated them just for newly eligible participants I think you would have a problem since loans must be available on a reasonably equivalent basis to all participants.

Understood and thank you for that reply.