What do you mean by "holding", exactly?

If you have one loan out already, you may not be able to take another loan until it's paid. All of this should be addressed in your plan documents.

If you currently work for this employer your not going to be able to get your money back but you can request another loan after the first one is paid off. Also you can stop contributing to your 401k or reduce the percentage that you currently contribute.

If you no longer work for this employer then the loan automatically defaults after you left the job and the difference of the loan will be taken from your balance. Anything left you can request the funds be returned to you or you can turn it over into an IRA at any bank or turn it over into your new employers 401k plan.

Just know that if you decide to keep it you are taxed in the year you take it. Also you are charged a 10% penalty by IRS when you file your taxes if you are under the age of 59 1/2.

Depending upon what kind of plan it is, it may not be abnormal for the employer to make the actual contribution yearly. If the plan is a "balance forward" plan, they only do the accounting once a year. So they would hold your contributions until that date, (usually dec 31 or March) If your plan is a normal daily valuation plan, you are losing out on those funds being invested (possibly saving yourself a loss, but also possibly losing out on a gain)- Speak to the administrator, though they cannot do much to encourage timely deposits of your contributions -- For Daily val plans, the employer is asked to have contributions deposited by the 15th business day of the month folllowing the deduction from your check. This is often not the case, many employers are months behind, and in rare cases ( I have seen one) the employer did not have the funds at all-- Check in with the plan administrator though they cannot force the employer to act any faster.. they will have specific suggestions for your state.. we would refer the employer to the State Labor board to complain, it is up to them to enforce ERISA requirements.