Taking a loan from your Deferred Compensation Plan account may not always be the right choice though. Before deciding to take a loan from your account, make sure you understand how taking a loan can affect your retirement savings.
Learn about the rules regarding taking a loan, including eligibility, loan fees, repayment rules, defaulting on a loan and much more.
Learn what the minimum and maximum loan amounts are and how much you may be eligible to borrow from your Plan account.
Understand how loan repayments are made if you are on a leave of absence, with or without pay, and how to continue your loan repayments.
If you still have questions, or would like more information about the Plan, register to attend the DCP Basics Seminar or call the Plan's Client Service Department at 212.306.7760.