loans
In a profit share / 401k if someone wants a loan .. I have a few questions:
* Is the amount according to IRS the lesser of 50% of vested value or 50,000?
* Can a loan be borrowed against both company contributions and dererrals as well?
* can a loan be taken from a solo K ?
Permalink Submitted by Alan Spross on Sun, 2008-12-21 04:55
Chuck,
1) Yes, the lesser of the two
2) Yes, but the company contributions must be vested
3) If the plan provisions include the loan feature.