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Managing Participant Loans

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Managing Participant Loans
Presented by Stephen W. Forbes, JD, LLM, Sungard

Original Presentation Date: Tuesday, June 5, 2012
Continuing Education Credits: 2 NIPA CPE

Many plans permit loans to plan participants.  However, these transactions often result in headaches for the TPA!  In fact, the IRS has identified loans as one of the most common mistakes in 401(k) plans.  With participant loans on the rise, join Stephen Forbes on June 19th for a valuable review of the participant loan rules.  This webcast will dive into the intricacies of the participant loan feature in qualified retirement plans, including:  
  • Loan options available in the plan document;
  • What constitutes a legally enforceable loan agreement;
  • Determining the maximum loan available;
  • What loan terms are permissible;
  • How a leave of absence affects the loan;
  • Refinancing of loans;
  • Satisfying the prohibited transaction exemption; 
  • Consequences when loan payments are not made;
  • Impact of employee severance and/or plan termination on loans; 
  • Best practices for administering loans; and
  • How to fix and avoid common loan mistakes. 
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