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Author: mjolah Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 25310  
Subject: Re: Contemplating a move... Date: 7/2/2012 11:20 AM
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The answer is, it depends on the terms of your prospective employer's plan. Each plan can set certain parameters around things like loans (subject to restrictions contain in the tax code). Ask. Many plan sponsors allow loans from rollover funds. Some don't. From my perspective, if the plan allows for loans (and not all do), then I see no real disadvantage to the plan sponsor in allowing them from the rollover funds within the plan. Keep in mind that there are restrictions on the amount you may borrow (the lesser of 50% of your balance, or $50,000) and there are time restrictions for pay back (5 years, unless it's for the purchase of principal residence, and then it may be longer - but there may be other restrictions, etc.).
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