IRA loan

SEVEN Q&As ABOUT COMPANY PLAN LOANS

Monday, March 02, 2020
Who can offer them? Most company retirement savings plans, such as 401(k), 403(b) and 457(b) plans, are allowed to (but not required to) offer plan loans. Loans are not allowed from IRAs or SEP and SIMPLE-IRA plans. What is the maximum amount I can borrow? Plan loans are generally limited to the lesser of 50% of your vested account balance, or $50,000. Your employer can allow an exception to this rule: If 50% of your vested account balance is less than $10,000, you can still borrow up to $10,000. Example 1: Justin participates in a 401(k) plan that allows plan loans. Justin’s vested account balance is $16,000. If his plan doesn’t allow the exception, the most Justin can borrow is $8,000. If the plan allows the exception, he can borrow up to $10,000.
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Does My Inherited IRA Qualify for a QLAC?

Thursday, April 16, 2015
Can an inherited IRA qualify for a QLAC (qualified longevity annuity contract)? Can I use my Roth IRA to pay for my grandchildren to go to college? These questions and more are answered in this week's Slott Report Mailbag.
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Can YOU Borrow from YOUR IRA?

Wednesday, July 20, 2011
The big issue in the news these days is how to resolve the "debt ceiling" issue. In essence, our legislators are just trying to figure out how much of a loan, as a nation, we can take. As the events of the recent past have taught us, borrowing can be a dangerous game, but when it comes to IRAs, borrowing can be more than just dangerous. It can be a fatal error that can decimate a lifetime of savings.
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