Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Next Thread
Author: jmrut Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 62  
Subject: affects of retiring on 401k loan Date: 1/27/2012 8:48 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
My wife just retired from the school system after teaching 30 years. She has an active loan against her 401k. She just got her first retirement check and there was no deduction for the loan. Will they treat this as an early distribution since she retired or should she still be able to pay the loan back?

Thanks,
Rut
Print the post Back To Top
Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 62 of 62
Subject: Re: affects of retiring on 401k loan Date: 2/28/2013 9:02 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
My wife just retired from the school system after teaching 30 years. She has an active loan against her 401k. She just got her first retirement check and there was no deduction for the loan. Will they treat this as an early distribution since she retired or should she still be able to pay the loan back?

Thanks,
Rut

It all depends on the plan. She needs to contact the 401K plan administrator immediately.

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Next Thread
Advertisement