Loans

Articles

Can I Take A Loan From My Account?
Your Plan may allow participant loans. If your plan allows you to borrow from your account, the amount the Plan may loan to you is limited by IRS rules. The maximum loan is 50% of your vested balance up to $50,000. The available amount to borrow wi...
 Requesting A Loan
To request a loan from your retirement account follow these simple steps: 1.  Once your are logged in select  Loan & Withdrawals from the Top menu 2.  Select a loan type: General purpose or Residential (Resident...
Loan Repayments
If you decide to take a loan from your retirement plan, repayments will be made through payroll deductions. Your payment amount will be determined by the length of the loan and the frequency of your payroll. You may increase the amount of your p...
Are Loans Taxable?
401(k) loans are not reported as taxable income if they are re-paid by the borrower. However, if the loan is not repaid when you leave your employer and move the funds out of the 401(k), the loan amount is considered a distribution and you will owe...
View Loan Details
Loan details can be viewed through your online account.  Log into your online account to see specific loan details.  1.  View Loans.  Access the details by selecting Manage My Account  and selecting View Loans ...
 Model A Loan
1.  Once your are logged in select  Loan & Withdrawals from the Top menu. 2. Select a Loan type: General purpose or Residential 3. Click Quick Loan Calculator   4. Enter the loan amount you would like to take fro...