My company is switching to Guideline — what happens to my existing 401(k) loan?

If your company is moving to Guideline, in many cases you will be able to transfer your existing loan to us. We can accept one loan per participant if the loan is in good standing and if your prior provider allows your loan to be transferred as part of the plan conversion.

We will ask your employer about outstanding loans at the beginning of the plan conversion process and will let them know if we anticipate any difficulty in accepting your loan. If you have multiple loans, we will consolidate these balances under one Guideline loan.

You should verify that your payments are up to date and that your current provider is reflecting all payments that you have made. If you are behind on payments, please work with your current loan provider to get caught up as soon as possible. 

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