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Cash Balance/ Defined Benefit Plan Administrator Steidle Pension Solutions, LLC
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DC Retirement Plan Administrator Michigan Pension & Actuarial Services, LLC
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BPAS
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July Business Services
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Dispelling an Urban Legend: Participant Loans Do Not Result in Double Taxation
Belfint Lyons & Shuman, CPAs 
Mar. 10, 2017 "If a plan participant needs a loan and takes a loan from the plan, or from a bank, or from a relative, the loan repayment is always made with after-tax dollars. Please note that loan proceeds are generally not taxable. If the loan repayments to a retirement plan were made with pre-tax dollars, the participant would effectively get TWO tax deductions or tax deferrals for only one distribution that will be taxable." MORE >> |
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