Plan Loans
Participants may take out a loan against their Plan account balance.*
Maximum Amounts
- 50% vested balance**, or
- $50,000, whichever is less
Repayment
- Within five years
- Substantially equal payments
- Quarterly payments, at minimum
- 15 years, if for the purchase of a principal residence
Other Requirements
- The employer's plan document must allow for plan loans
- Loan approval and application requirements must be met
*Individual vendor contracts may or may not allow for this feature.**If 50% of the vested balance is less than $10,000, you may borrow up to $10,000. Plans are not required to include this exception.
Administered and Marketed by American Fidelity Assurance Company, dba AFPlanServ®
ESB-4144-1218