Participant Loans

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The retirement plan landscape is ever evolving. We distill the details so you don’t have to!

We’ve corralled the best news from inside the beltway – not only regulations, but also new legislation from Congress as well as relevant guidance from the IRS and Department of Labor. In true DWC fashion, we don’t just repackage a recitation of the rules, we provide our thoughts and commentary about what those rules mean to you.

We know cash balance rules can be intimidating! Settle into the Cash Balance Corner and let us break it down for you.

Have 401(k) questions? We have 401(k) answers! We bring you answers to many of the common questions we receive.

A behind-the-scenes look not at how the sausage is made, but why we make it the way we do. (Hint: It’s all about the best interests of the client.)

We’re all about learning from other people’s (alleged) mistakes. We might not be attorneys, but we still follow benefits-related cases and summarize lessons and key take-aways. No hourly fee needed for these insights!

A deeper dive into retirement plan topics doesn’t have to be headache-inducing. Our Pension Primer articles provide depth of information without depth of jargon!

01/16/25

DWC | 01/16/2025

Self-Correction of Participant Loans – The IRS Gave & DOL Confirms What it Took Away

Earlier this week, the Department of Labor published the first update to its Voluntary Fiduciary Correction Program (VFCP) in nearly 20 years. Probably the most newsworthy change is the creation of ...

DWC | 10/22/2024

Twenty Questions: Retirement Plan Loan Style

DWC | 12/8/2020

CARES Act Relief for Retirement Plan Loan Payments is Ending, Now What?

Facts Earlier this year, we implemented the coronavirus relief provisions that allowed our participants to suspend loan payments for the remainder of 2020. As a result of reduced hours and other ...

DWC | 04/14/2020

Is There Any Coronavirus Relief for Participants Who Want to Postpone Plan Loan Payments?

Facts Several participants in our 401(k) plan currently have outstanding plan loans, and many others are looking to initiate them. However, given the current pandemic, many participants are concerned ...

DWC | 04/7/2020

How Does the CARES Act Expand the Availability of Retirement Plan Loans?

Facts Our 401(k) plan allows participants access to their accounts via hardship distributions and, for those at least age 59 ½, via in-service withdrawals. But with the economic uncertainty of the ...

DWC | 03/30/2020

DWC News Update | The CARES Act: Federal Coronavirus Relief

On Friday afternoon, March 27th, Congress passed, and the President signed, the Coronavirus Aid, Relief, and Economic Security (CARES) Act - sweeping legislation intended to provide much-needed ...

DWC | 12/10/2019

Do 401(k) Loans Impact a Participant's Credit Score?

Facts Our 401(k) plan allows participants to take loans from their accounts. We have a written policy that describes how the loans work and spells out the requirements that the plan and participants ...

DWC | 09/24/2019

How Do I Calculate How Much Money is Available for a 401(k) Loan?

Facts The participants in my company’s 401(k) plan are regularly inquiring about how much money they have available for a loan. When I report back the amount available to them, it’s not unusual for ...

DWC | 05/30/2019

Feeling Defeated in the Battle of Participant Loans? We've Got a Fix for That.

While not quite as ominous as a battle with the Night King, dealing with participant loans in retirement plans can be a daunting challenge for plan sponsors. Because of Congress’ concerns about ...

DWC | 04/22/2019

DWC News Update: The IRS Helps Those Who Help Themselves

The IRS did its part to make Friday, April 19th a really good Friday for those who sponsor qualified retirement plans. After not making many friends when it jacked up the user fees for the Voluntary ...

DWC | 03/5/2019

Plan Loans & Past Participants: What Happens to a Participant's Loan Balance When They Terminate Employment?

Facts We have a participant who took a loan from his 401(k) account at the beginning of the year. Yesterday, he gave us notice of his resignation, effective in two weeks, but he still has an ...

DWC | 05/29/2018

Can You Make Extra Payments on a 401(k) Loan to Pay It off Faster?

Facts A participant in our 401(k) plan took out a loan a couple years ago. She could only afford to make the bare minimum payments at the time, but is now in a financial position to pay down the loan ...

DWC | 10/3/2017

Who Must Receive Retirement Plan Blackout Notices?

Facts We have selected a new recordkeeper for our 401(k) plan. We are told that there will be a period of eight business days when our participants are not able to log in and manage their accounts. ...

DWC | 09/12/2017

Should We Deny a 401(k) Loan Based on an Expectation of an Employee’s Termination?

Facts One of the participants in our 401(k) plan just applied for a loan for $25,000. He has enough in his account to support the loan, but there is a bit of a wrinkle. We are planning to reorganize ...

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Decoding the Alphabet Soup: What’s With All the Acronyms | Part 4

In Case of Emergency, (Don't) Break Plan!

ESG Isn't Dead...Yet

Form 5500 – File It Late or Incomplete?

"Complete Control" with Recommended Contributions

“Cover Me” with the Pension Benefit Guaranty Corporation

10 Common Retirement Plan Compliance Failures Found by the IRS

2020 DOL Enforcement Stats: Is the Glass Half Full or Half Empty?

2020 Retirement Plan Tax Deductions - It's Not Too Late

401(k) Distribution Rules: After Taking a Hardship Distribution, How Quickly Must a Participant Stop 401(k) Contributions?

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Participant Loans

Extra! Extra! Stay up to date on the latest news about the DWC team.

The retirement plan landscape is ever evolving. We distill the details so you don’t have to!

We know cash balance rules can be intimidating! Settle into the Cash Balance Corner and let us break it down for you.

Have 401(k) questions? We have 401(k) answers! We bring you answers to many of the common questions we receive.

A behind-the-scenes look not at how the sausage is made, but why we make it the way we do. (Hint: It’s all about the best interests of the client.)

We’re all about learning from other people’s (alleged) mistakes. We might not be attorneys, but we still follow benefits-related cases and summarize lessons and key take-aways. No hourly fee needed for these insights!

A deeper dive into retirement plan topics doesn’t have to be headache-inducing. Our Pension Primer articles provide depth of information without depth of jargon!

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