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401k Loan Agreement

401k Loans | Fiduciary Responsibilities | Maximizing Tax Deductions | And More

46% of retirement plan participants who borrow from retirement plan do so for debt consolidation.

Other typical reasons for 401k loans include emergency funding, home purchase or improvements, and supplementing income due to job loss. Sadly, nearly 15% of retirement plan participants who borrow from their 401k plan do so to fund a special event, such as a vacation or wedding. We explore participant loans in our featured article, Borrowing from 401(k)s - Short-Term Solution, Long-Term Impacts.

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ERISA Workplace Retirement Plan Limits

The federal government annually publishes updated qualified retirement plan limits, which impact the contributions, benefit accruals, and compliance of ERISA covered qualified retirement plans. The below tables summarize the most significant changes in recent history.


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Spectrum is a B2B consulting firm, which enables American Workers to plan and save towards a dignified financial future by designing, administering, and operating the ranges of retirement and financial plans for U.S. employers.

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