do you know the drawbacks for this type or type of loan or perhaps the repercussions for lacking re re payments? These details sheet responses these questions and offers information that is general the important points and mechanics of 401(k) loans.
What exactly is a k that is 401( loan?
A 401(k) loan is a pastime bearing loan on a participant’s current 401(k) balance.
- There aren’t any fees withheld or charges assigned when that loan is at first taken.
- Charges can be charged upon loan creation. Look at Loan Administration Policy/Program for certain participant loan limitations and expenses.