File name: Nationwide 457 Loan Rules Pdf
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You qualify for a loan from your (k) or (b) account if you: • Are a current State of California employee • Do not currently have a loan in the plan account in which the loan is being requested. process is similar to taking out a loan from a lending institution. You must complete an application and be approved for the loan. Minimum loan amount is $1, Maximum is 50% of your Missing: Pdf. Find Deals at Our site · Wide Variety Of Coupons · Send A Message · Dive into DiscountsService catalog: Latest Coupon Code, Free Online Coupon, Newest Promo Codes. A deferred compensation plan is another name for a (b) retirement plan, or “ plan” for short. Deferred compensation plans are designed for state and municipal workers, as well as employees of some tax-exempt organizations. You qualify for a loan from your (k) or (b) account if you: • Are a current State of California employee • Do not currently have a loan in the plan account in which the loan is being requested • Have a balance of at least $10, in the plan account in which the loan is being requested. Your employer may permit you to take a loan from your deferred compensation plan. The process is similar to taking out a loan from a lending institution. You must complete an application and be approved for the loan. Minimum loan amount is $1, Maximum is 50% of your vested account balance up to $50, 2 Maximum loan term for a principal. Nationwide Retirement Solutions PO Box Columbus, OH Overnight Address Nationwide Retirement Solutions 1-LC-F2 1 Nationwide Plaza Columbus OH PLEASE NOTE: Applying the loan payoff check to your account balance can take business days. A confirmation letter will be sent on the business day after the loan is paid in. (b) Deferred Compensation Plan Unforeseeable Emergency Withdrawal Booklet Phone: () • 2. Eligibility to Withdraw Funds 3. General Information. All information contained in this booklet was current as of the print date. The Plan reserves the right to amend any of the procedures or. • Nationwide may deposit the loan request directly to your bank account or send it to you via mail • If you choose to cancel a requested loan, pleasecontact Nationwide and the Benefits Office benefits@ or To apply by telephone. To apply for a new loan or refinance a current loan you must contact Nationwide’s.
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