Q. Ryan J. of Wisconsin asks: "How Long Will I Have to Wait for My Loan Proceeds?"
Brett Disdale from Pension Evaluators & QDROS Of Troyan, Inc Associates Group, answers: "Once a loan is approved by your plan administrator, the request to withdraw the funds will be forwarded to the plan's custodian, or the company that holds the plan's funds. Every custodian has its own internal procedures for distribution requests. Typically, plan funds can be released within one to two weeks following receipt of the distribution instructions. Then, a check will be forwarded to you.
Brett Disdale
Lead Pension Analyst