401(K) Loan changes with the CARES Act
The CARES Act and 401(k) loans (and other defined contribution plans) What changed: Many 401(k)s and other defined contribution plans allow participants to take out a plan loan of up to $50,000 or half of their own vested account balance. Typically, loans are then repaid over a five-year period through payroll deductions. The CARES Act made [...]