Also known as The Truth-in-Lending Act, is a regulation that applies to qualified plans that regularly extends qualified plan loans more than 25 times (or more than 5 times for transactions secured by a dwelling) in the preceding calendar year. The Truth-in-Lending Act requires the participant to be provided with information that includes , the terms of the loan such as rate of interest, repayment period and finance charges; so that the participant will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit. Referring Cite 12 CFR 226; 15 U.S.C. §1601 et seq Additional Helpful Information For this purpose, Dwelling means a residential structure that contains 1 to 4 units, whether or not that structure is attached to real property. The term includes an individual condominium unit, cooperative unit, mobile home. The Truth-in-Lending Act also applies to consumer credit that is not qualified plan loans Related Articles Tutorial or Other Content Spending Phase Annuitization Phase
Denise is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA resources for financial/ tax/legal professionals. She has over 20 years of experience in the retirement plans field, which includes training and technical consultation.
Denise writes and publishes educational /marketing tools for advisors; available at http://irapublications.com. Denise co-authored several books on IRAs
Denise is a graduate of The John Marshall Law School, where she obtained a Masters of Jurisprudence in Employee Benefits, and has earned 5 professional retirement designations.
She has appeared on numerous media programs, sharing her insights on retirement tax laws.