When Can I Take A Loan From My 401K?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   Loan provisions under a 401(K) plan are subject to the plan approved by your employer.  That plan must comply with ERISA, a federal regulation.  The decision as to when you can borrow against your 401(k) has been made by your employer and that includes the conditions under which a loan will be allowed.  There is also a vesting schedule if the employer is contributing to the 401(k).  Check with your HR representative.

   Answered on August 4, 2014

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