Featured Jobs
Bates & Company
|
Retirement Plan Relationship Manager ERISA Services, Inc.
|
Central Pension Fund of the IUOE
|
Defined Benefit Calculation Specialist/Actuary The Angell Pension Group, Inc.
|
Benefit Associates, Inc.
|
DPS Retirement Plan Consultant EPIC Retirement Plan Services
|
Nicholas Pension Consultants
|
Compass Retirement Consulting Group, Inc.
|
United 401(k) Plans, Inc.
|
Retirement Plan Legal Specialist Pentegra
|
Central Pension Fund of the IUOE
|
Carpenter Morse Group
|
Nova 401(k) Associates
|
Trucker Huss, A Professional Corporation
|
Prime Pensions, Inc.
|
Free Newsletters
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
 |    |
<< Previous news item | Next news item >>
| Loan Source Restrictions on Proceeds -- How is 50% Cap Affected? BenefitsLink Message Boards  Feb. 9, 2021 "Plan uses a common record-keeper/custodian that also processes participant loans online: Principal. The plan assets consist of only deferrals and safe harbor match (100% vested, not QACA). The plan's loan policy restricts the loan proceeds source to just deferrals. Joe Participant has the same amount of $ in deferrals and SH match. The record-keeper is unable/refuses to process a loan for 50% of the participant's vested balance (essentially 100% of the deferral balance). They are insisting the only way it is possible would be for the plan to amend its loan policy to allow the loan to be taken from all sources. Is that right?" |
| Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above). |
| An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified). |
