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Asked 12/4/2008
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Can i stop my payroll deduction on a 401k loan? Payroll deduction amount is too much because of current hardship |
Answer 1/3 - Submitted 12/5/2008
Answer 2/3 - Submitted 12/8/2008
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After a few years of corporate schuffling and outsourcing of payroll, i recently found out after a second 401k fund management transfer by the employer that i have 24 hours to settle a 401k loan or defualt since the payroll firm suddenly stopped my payroll deduction for the loan payments over 6 quarters...
I currently have a loan on my 401k, i have been making the loan payments through a payroll deduction, however my employeer has not forward these payments to my plan for the past 3 and a 1/2 months. are employers required to submit these payments is any specfic timeframe? thank you for any help
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