Saving for your retirement through your company-sponsored plan is an excellent way to plan for a more comfortable future after you leave the workforce. In the present, however, cash needs may arise, and when they do, you deserve a simple and private solution.
ReservePlus addresses your needs by protecting the growth of your retirement plan account while greatly simplifying the borrowing process. As such, you can conveniently access your money when you need it the most.
ReservePlus works as a revolving loan line. As you reduce your outstanding balance, the funds are re-deposited into your ReservePlus account and are again available to borrow as needed. Non-revolving programs may be available in certain circumstances as well. Speak with your Plan Administrator for details.
With ReservePlus, you can enjoy the following features and benefits:
- Simple application process
- Privacy and confidentiality
- Ability to access your funds on demand
- Flexibility to borrow only what you need
- Unused funds remain invested in your retirement plan and continue to earn dividends
- Detailed monthly statements
- Payment flexibility: make more than the required minimum payment at any time without penalty
- Toll-free customer service
- 24/7 automated phone and online access
- Confidence of participation in your 401(k) plan, knowing your money is there when needed most
- Flexibility if you leave your employer: continue to make minimum monthly payments (traditional retirement plan loans require a lump-sum payoff)
If you have not already applied for ReservePlus, click here to begin the simple 3-step process to making your financial life more manageable.
