• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL
Help

Chapter 8. 401(k) and Other Retirement P... > Types of Plans That Offer Loans

Types of Plans That Offer Loans

Right off the bat, you need to know that not all retirement funds allow loans. You can't get a long-term loan from an individual retirement account (IRA) or a Roth IRA, for example. (You can take money out for up to 60 days, but if you don't put it back, it's considered an early withdrawal—which means you'll pay taxes and penalties.)

By contrast, workplace plans like 401(k)s and 403(b)s aren't required to allow loans, but most of them do. So do many 457 deferred compensation plans offered by government agencies.


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint