Topic: "Loans"

401(k) Loans During a Leave of Absence

April 2021

What happens when an employee with a loan takes a leave of absence? It depends on the type of leave. There are different rules for a normal leave of absence versus military leave. When it is a non-military leave, the... Read more

Loan Defaults

February 2021

Loans

Although offering loans in your 401(k) plan is not required, many plans offer this feature. Such a feature allows a plan participant to withdraw pre-tax money from their plan account without incurring taxes on the withdrawal. Generally, 401(k) loans are... Read more

Resumption of Loan Payments

December 2020

Loans

2020 has been a hard year for many of us. To provide a little relief, one of the provisions of the CARES Act passed by Congress this year gave plans the option to allow participants to defer starting payments on... Read more

Frequently Asked Questions

September 2020

Distributions, General, Loans, Retirement Plans

Distributions FAQ Question: How do I contact Noble-Davis Consulting for questions about my account? Answer: We can be reached at our Participant Hotline number at 866-811-6604, via email at contactus@nobledavis.com or on our web chat during normal business hours. Question:... Read more

Loan Offset Rules Change

October 2018

Loans

If a participant has outstanding loan taken from the Plan at the time of distribution, it is typical for their plan benefit to be offset by the amount of the loan. The loan offset amount is treated as a distribution... Read more