Page 28 - AprDefComp

Suspending loan repayments

• Only allowed for Qualified Individual

• Applies to payments due:

• From date of enactment (March 27, 2020)

• Through December 31, 2020

• Repayments may be suspended for one year

• When payments resume loan must be reamortized

• Interest continues to accrue during suspension period

• Upon resuming payments, loan does not need to be
paid off within five years of original loan date

Optional provision - can be elected by plan sponsor

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