Bates & Company, Inc.
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Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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Loan & Distribution Specialist AimPoint Pension
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AimPoint Pension
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Advisers Warning Clients On 401(k) Loans
The Wall Street Journal; subscription may be required Aug. 13, 2013 "The fact that account holders who take out 401(k) loans are paying themselves back with interest may be blinding them to the far-reaching drawbacks ... [C]ontribution rates tend to be lower as the loans -- which often range from 5 years to 20 years -- are paid back. Worse yet, those who lose their jobs are generally given just 60 to 90 days to repay the loans. If they default, those younger than 59-1/2 years old face a 10% early withdrawal penalty in addition to income taxes." |
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