Retirement Savings Plan Summary Plan Description
6.8 Loans
You may request a Plan loan for an amount between $1,000 and $50,000, not to exceed 50% of your account balance (or, if less, $50,000 reduced by the highest outstanding loan balance during the 1-year period ending immediately before the new loan date). You may have up to two loans outstanding at any one time, though the limits apply on an aggregate basis. You may not take a new loan if you previously defaulted on a loan and have not paid it off. You must make monthly payments of principal and interest on your loan, which are credited to your account and applied to the same investment funds that receive your new contributions. The maximum loan term is 60 months (or 180 months, if the loan is to acquire your principal residence). Loan fees apply, and will be charged directly to your account. Any loan you obtain is funded and secured by your own account, which will be reduced if you default on the loan. For more information, request a copy of the Plan's Loan Policy from the Plan Office. To initiate a loan, contact Fidelity Investments at (866) 848-6466 to receive a loan application with further instructions.