Retirement Plan Loan Calculator

Are you considering taking a loan from your plan?

If so, this calculator can help you determine, based on the loan permitted under your plan, what your monthly payments might be. Simply enter the loan amount your plan will permit (based on the plans your employer sponsors that are administered by planwithease.com®) and the calculator will determine your monthly payment. Or if you prefer, enter the monthly amount you can afford and the calculator will determine a corresponding loan amount. You can then examine your principal balances by payment, the total of all payments made, and the total interest paid. Press the View Report button to see a monthly payment schedule.

The actual loan amount you may take is subject to the product provisions of your Investment Provider(s), the terms of your plan, and Internal Revenue Code (IRC) requirements. As a reminder, the IRC permits you to take a plan loan that—when added to the outstanding balance of your other loans from all plans of the employer—cannot be more than 50% of your vested account balance up to $50,000 (less the highest outstanding loan balance from plan loans you have had over the past 12 months).

Generally speaking, defined contribution plans are long-term investments designed for retirement purposes. You should consider all of your options before making an investment related decision. Loans may impact your withdrawal value and limit participation in future growth potential.

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For more information about these these financial calculators please visit: Dinkytown Financial Calculators from KJE Computer Solutions, LLC

This tool does not guarantee the availability of a loan or that the payments will be equal to the illustrations shown. The analysis provided by this tool is based solely on the information provided by you. All examples, if any, are hypothetical and for illustrative purposes and do not represent current or future performance of any specific investment. No guarantees are made as to the accuracy of any illustration or calculation. This information does not serve, either directly or indirectly, as legal, financial or tax advice and you should always consult a qualified professional legal, financial and/or tax advisor when making decisions relative to your individual tax situation. All investments carry a degree of risk, and past performance is not a guarantee of future results. Generally speaking, the greater the return, the greater the risk.