Can one borrow from a 401K and then make a catchup contribution in same year with borrowed funds?
tks all
- posted
14 years ago
401K
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- posted
14 years ago
401(k) contributions can only be made as a paycheck deduction. So it's not like you can turn around and directly contribute the money you borrowed.
However, I don't see any reason why you couldn't increase the
401(k) deduction from your paycheck and use the borrowed funds to make up the reduced cashflow caused by the increased deductions.-- Rich Carreiro snipped-for-privacy@rlcarr.com
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- posted
14 years ago
tks Rich, appreciate the help.
bw