Loans are available from a minimum of $1,000 to a maximum of $50,000. How much you can borrow depends on the amount you currently have in the plan and whether you have other outstanding loans. If you have accumulations in other employer's plans, you may be able to transfer or roll them over to the DePauw University 403(b) Retirement Plan to increase your maximum loan amount.
IMPORTANT: The maximum loan amount available to you is calculated based on the total eligible accumulations in your contract.
Prior to initiating a transfer of assets, be sure to carefully consider differences in features, costs, charges and expenses, services, company strength and other important aspects. There may also be surrender charges and tax consequences associated with the transfer. Indirect transfers may be subject to taxation and penalties. Consult with your own advisors regarding your particular situation