All information on hardship withdraws and loans are clearly listed on the teamster 401 site. Remember any hardship withdraw is subject to 20 percent tax penalty and I believe another 10 percent if you are under age 55. Basically you lose 30 percent of your holdings.
Loans are at calculated at 9 percent interest rates. Bottom line is that you are paying that interest on your own money.
The system is designed to keep the money in their trust. What is scary is that the rules could change quicker that the central states did, what happens if the feds decide to charge additional tax burdens or raise the age requirement to 65 instead of the current 59 1/2.
Choose wisely
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