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	<title>New answer on: Can You Borrow Against Your Retirement Plan In Pennsylvania?</title>

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		<title>By: Jerry Usher</title>

		<link>http://insurancelibrary.com/retirement-plans/can-you-borrow-against-your-retirement-plan-in-pennsylvania</link>

		<dc:creator>Jerry Usher</dc:creator>

		<pubDate>Wed, 11 Sep 2013 14:16:53 +0000</pubDate>

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		<description><![CDATA[This is a pretty difficult question to answer in a forum like this.  I highly recommend that you speak to a professional one-on-one to completely evaluate your needs and to see if you can borrow - and if so, if it would be financially smart to borrow from a retirement fund.  Feel free to contact me if you have no one else.

To give you a little idea if you could however, here are some guidelines:

Most retirement funds are NOT AVAILABLE to borrow from.  If you have a Defined Benefit or a Cash Balance Benefit, you can not borrow from it.  You can move your funds to a different account, with professional guidance to avoid penalties.  But with these types of accounts, you usually can not touch until you retire.

If you have a Profit Sharing account or a 401K - you MAY be able to borrow depending upon the rules of the company that it is through and/or the rules of the company you work for.  Again, however, most will not allow you to borrow.  If they do, typically you can only borrow 50% of YOUR contributions (not what your company contributes) or $10k, whichever is less.

Again, this is a very difficult and technical topic to get a solid answer here.  Look me up if I can be of any further help.]]></description>

		

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