Loans are available from a minimum of $1,000 to a maximum of $50,000 from your employer. 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 employers' plans, you may be able to transfer or roll them over to the Oregon University System Tax-Deferred Investment Plan to increase your maximum loan amount.
Note: Only one loan per eligible plan may be requested per calendar year. You are responsible to disclose all outstanding and/or defaulted loans through all plans of the employer, including legacy 403(b) plan accounts, this 403(b) Plan account, the Optional Retirement 401(a) Plan and the State of Oregon IRC 457 Oregon Savings Growth Program.
TIAA-CREF is responsible for reporting loans to your employer, including beginning and end dates, as loans are issued. However, you are ultimately responsible for the consequences of excess loans or outstanding loan balances. TIAA-CREF and your employer may rely on your statement regarding outstanding loan balances.