How consultants can help clients with a 401 (k) loan

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Jan Berger, JD

As a result of widespread job loss during the coronavirus pandemic, many suddenly unemployed people who have plunged into retirement accounts are saddled with outstanding loans from company savings plans. Counselors can play a valuable role in helping these clients by understanding how “loan offset” rules work, how CARES affects loans, and how offsetting differs from “contingent payments”.



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