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Pastimes : All Clowns Must Be Destroyed
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To: Les H who wrote (33870)5/19/2000 10:39:00 AM
From: Mama Bear  Read Replies (1) of 42523
 
Les, no margin calls on a 401k loan. There's no real loan there, it's an accounting fiction. You take out your own money, and pay it back to yourself with interest. However, if the employee loses the job the loan becomes immediately due in full. If it's not paid back, the gov't counts it as a distribution and you have to pay the penalty on your taxes.

Regards,

Barb
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