Loan Provisions
Offer financial flexibility in unforeseen situations. Provide your employees with the option to borrow from their retirement savings in times of financial need.
Loan Provisions
Offer financial flexibility in unforeseen situations. Provide your employees with the option to borrow from their retirement savings in times of financial need.
Balancing Retirement and Financial Needs
We’ll help you navigate the complexities of loan provisions, ensuring your employees understand the benefits and implications.
Your retirement plan may allow employees to take loans against their account balance, offering financial flexibility during unexpected life events. This can provide financial flexibility during unexpected life events. However, it’s important that employees understand the implications, as unpaid loans can become taxable distributions and potentially incur a 10% early withdrawal penalty.
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More than 4,500 employees at over 30 companies save with Prosperity 401(k) Advisors.
401k Resources
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In the world of business management, understanding the roles and responsibilities of various financial professionals is paramount. Particularly when it comes to handling retirement plans like 401(k)s, the expertise brought
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Discover why customized 401(k) plans are a better choice for businesses and learn how to provide diversified investment options for your employees. The Limitations of Target Date Funds for 401(k)
