Tycor Benefit Administrators, Inc.
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Carpenter Morse Group Inc.
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The Retirement Plan Company
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|Electronic Processing of Participant Loans in Retirement Plans (PDF)|
American Academy of Actuaries
July 7, 2005
2 pages. Excerpt: The current loan system is not without flaws. Loan processing can take three days to three weeks, which can be a real hardship for borrowers faced with an emergency. Plan sponsors dislike the paperwork and administrative burden of processing loans and the unpleasant task of chasing after loan payment defaults.
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