Can i borrow from my 401k plan while on maternity leave

Question

Can i borrow from my 401k plan while on maternity leave

Answer 1

With many plans you can borrow any time you feel like it, provided you have the available vested balance. But some plans only allow loans for "hardships," and that's much more difficult to prove. Check with your plan administrator to see how yours works, or you might have a copy somewhere of the Summary Plan Description. Look for the section on loans.

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