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House Foreclosure - 401k Being Held Hostage
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<blockquote data-quote="upsman67" data-source="post: 100337" data-attributes="member: 5606"><p>The IRS does regulate part of it (penalties for early withdrawl, interest on loans), but UPS itself decides under what conditions (hardship, adoption, etc.) in which they will okay a loan. And they choose which company to administer it. If somebody wants to take a loan on their 401k (paying themselves back with interest), I see no reason why they shouldn't be able to.</p></blockquote><p></p>
[QUOTE="upsman67, post: 100337, member: 5606"] The IRS does regulate part of it (penalties for early withdrawl, interest on loans), but UPS itself decides under what conditions (hardship, adoption, etc.) in which they will okay a loan. And they choose which company to administer it. If somebody wants to take a loan on their 401k (paying themselves back with interest), I see no reason why they shouldn't be able to. [/QUOTE]
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