CARES Qualified Plan Loan

Just doing some double checking and re-read this…

INCREASED LOAN LIMITS AND MANDATORY DEFERMENT OF LOAN PAYMENTS
For the 180-day period beginning on March 27, 2020, certain retirement plans may now allow qualified
individuals to borrow up to the lesser of $100,000 or 100% of their vested account balance. Additionally, if a
qualified individual has a loan outstanding on or after March 27, 2020, the due date for any loan payment that
is due between now and December 31, 2020, shall be delayed by one year. When payments resume, the loan
schedule must reflect the extended due date of the deferred payments, including any interest accruing during
the deferment.

Does this mean the loan privilege under the CARES Act ends on August 27, 2020? That would be 180 days approximately from March 27,2020.

Thank You As Always,

Mike Arnold



The last day of the 180-day period beginning on March 27, 2020 is September 22, 2020.

Thank you, my bad.  

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