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Efforts to Discourage Participant Loans
PLANSPONSOR; registration may be required
July 16, 2018
"More than six in ten (63.6%) [respondents] said their retirement plan uses education or plan design features to discourage participants from taking loans, while 36.4% said it does not. More than one-quarter (27.3%) indicated their plans do not offer a loan feature ... More than four in ten (40.9%) reported that the number of loans outstanding is limited to one, 13.6% said loans are limited to only certain accounts, such as employee deferrals, and 4.5% said loans can only be taken for reasons of substantial hardship."
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