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					V TA
401(a) Money Purchase Plan
Loan/Refinance Application Packet
This booklet contains the 401(a) Loan/Refinance
VTA has chosen to make loans available from your section 401(a) money purchase plan, administered by the ICMA Retirement Corpora-
tion (ICMA-RC). The loan provision is a valuable feature, giving you the opportunity to borrow from your account balance and repay the
loan through Automated Clearing House (ACH) debit. The loan is actually an investment of a portion of your account balance in a
promissory note which you will sign upon receiving the loan funds. All loans bear interest that you pay and is credited to your account. The
amount you receive as a loan is not treated as a taxable plan distribution unless you default on the loan.

Steps to Follow

1. Obtain Loan Guidelines from VTA.

The Loan Guidelines contain the specific provisions adopted by VTA relating to permissible loans, such as:

         Eligibility. Loans are available to active employees who are in paid status at the time of the loan application. If, at the time
         of the loan application you are in a paid status (i.e., vacation, sick leave), but are not actively working, you must indicate
         your intention of returning to active work with VTA in order to be eligible. If you are actively working, you must indicate
         your intention to continue working at VTA. Loans are available for the following reasons only:

         (1) Purchase of a participant’s principal place of residence. (Loans are not available for refinancing or foreclosure.)
         (2) College Tuition and Fees (Excludes books and living costs.)
         (3) Unreimbursed medical expenses.

         Loan Frequency. One loan per calendar year is permitted, provided all previous loans have been repaid in full.

         Loan Amount. The minimum permitted loan amount is $1,000, and you must have at least $2,000 in your account at
         the time. The maximum may not exceed the lesser of 50% of your account balance or $50,000. A worksheet for calculat-
         ing this amount is included on the last page of this brochure.

         Length of Loan. Loans must be repaid in substantially equal monthly installments of principal and interest over a period
         that does not exceed five years. The only exception is a longer repayment period (up to 15 years) for a loan used to acquire
         a principal residence.

         Loan Repayment Process. You begin repaying your loan as soon as administratively feasible through Automated Clearing
         House (ACH) debit. You may continue to repay the loan while on leave of absence, or you may complete a Request for
         Loan Repayment Suspension Form. Your loan repayment is allocated according to your most recent election of investment
         option(s). If your account has insufficient funds to make the entire payment, or to make any payment at all, the balance of
         the payment must be paid by certified bank check to ICMA-RC if you do not request a loan suspension. You may pay all
         or a portion of the principal and interest obligation early without penalty or additional fee. Extra payments are applied
         forward to the principal and interest breakdown on the original repayment schedule, unless the original payment is for the
         balance due. Extra payments must be in increments of $1,000, unless the additional payment is for the entire principal
         balance due.

         Loan Interest Rate. The loan interest rates are set for regular loans at the prime rate (the often-quoted rate that banks
         charge their best customers) plus 0.5%, and for principal residence loans at the FHA/VA rate. The method for setting
         these rates is established in the Loan Guidelines. Loan interest rates are locked in at the time of approval and remain fixed
         throughout the life of the loan.

2. Determine whether the amount you wish to borrow is within federal tax code

You may calculate the maximum amount available to you using the Maximum Loan Worksheet on page four. Your requested loan
amount is subject to downward adjustment without notice due to market fluctuation between the time of application and the time
the loan is made.

3. Complete the attached application form.

401(a) Loan/Refinance Application Form. This form is used to apply for a new loan or to refinance an existing loan. You may
apply for a new loan for a qualifying reason if you have no loans outstanding.

Refinancing is available to participants who have a non-residential loan. You may not refinance a loan for a primary residence,
although you may reamortize it. In refinancing a loan, you are not permitted to extend the loan repayment period beyond the
length of the payment period permitted for the initial loan.

4. Submit a completed form to your employer.

You must complete and sign the form according to the instructions provided and submit it to VTA Deferred Compensation staff
PROCESSING. VTA will review and approve the application. If your application is denied, VTA will provide the denial in
writing. If approved, VTA will send the completed, approved application to ICMA-RC.

5. Receive loan documents and check from ICMA-RC through your employer.

ICMA-RC typically sends out loan documents and checks two business days after receipt of complete and approved applications
received through 12 noon Eastern Time.

6. Begin loan repayments.

Your loan repayments will begin in accordance with the Amortization Schedule provided to you.

Important Additional Information

How much will I be charged for the loan?

You will be charged a one-time, nonrefundable $50 fee, which will be deducted from your account when your loan request is
processed. In addition, you will be charged an annual maintenance fee of $35 which will be deducted from your account (on the
first day of the quarter containing the anniversary of the loan issuance) each year the loan is outstanding.

What happens if I do not have sufficient funds with which to make my payment?

Contact VTA Deferred Compensation staff regarding a loan suspension.

What happens if I die before the loan is paid off?

If you die prior to full repayment of your outstanding loan(s), the outstanding loan balance will be deducted from your account
prior to distribution to your beneficiary(ies). The unpaid loan amount is a taxable distribution. Your estate is responsible for taxes
on the unpaid loan amount, if any. Your beneficiary is responsible for taxes due on the amount he/she actually receives. A Form
W-2 will be issued to your estate and a Form 1099 will be issued to your beneficiary for these purposes.

What happens if I separate from service before my loan is paid off?

Loans are due and payable when you separate from service. If not repaid in full, the outstanding loan balance will default unless
paid off at separation. Such a default of your loan is considered a taxable distribution.

See VTA Loan Guidelines for further information regarding loan suspensions and defaults.

My loan is for a principal residence purchase. Can I deduct the interest on my federal tax return?

While ICMA-RC does not provide tax advice, you should be aware that the instructions for completion of Schedule A, Form 1040
require that a condition of deductibility of home mortgage interest is that the loan is secured by the property. The security of your
section 401(a) money purchase plan loan for a residence is your account balance, rather than the property itself.

How is my ACH debit for loan repayment treated for tax purposes?

Your ACH debit for loan repayments will be made on an after-tax basis. At the time that funds were transferred from your account
to the investment in the Promissory Note, no taxable income was reported. When loan repayments are made, the repayments are
credited back to your account. Because the amounts credited replace amounts already identified as to taxability, the repayment is
made on an after-tax basis. A second tax deduction for replacing the funds, which will retain their pre-tax status, would amount to
the same funds in the account having resulted in a tax deferral twice.

How does this appear on my statement?

Your quarterly statements will include a loan summary report, detailing the crediting of repayments of principal and interest to
your account and presenting the outstanding loan balance amount.

Whom can I call for assistance?

Assistance is available concerning loan interest rates and monthly repayments, which depend on the reason for the loan, the
amount you borrow and the number of years you select to repay it. Contact ICMA-RC’s Investor Services staff between 8:30 a.m.
and 9:00 p.m. Eastern Time. Please call the toll-free VantageLine 1-800-669-7400 and request that you be connected to Investor
Services. Para asistencia en Español llame al 1-800-669-8216.

     Maximum Loan Amount Worksheet (Required under the Internal Revenue Code)
     To estimate the maximum amount of a loan for which you may be eligible, calculate each step and select
     the lesser of the total from Step 1 or Step 2. If you have had no outstanding 457 or 401 plan loans in the
     last 12 months, you may enter $50,000 as the total in Step 1 and proceed to Step 2.

     Step 1.            ___________         A. Enter your highest outstanding loan balance during the previous 12
                                            months from 457 and 401 plan loans. [See your Loan Amortization

                        (__________)        B. Enter your current outstanding 457 or 401 plan loan balance(s).

                        ___________         C. Subtract Line B from Line A.

                        $50,000             D.

                        (__________)        E. Enter the amount from Line C.

                        ___________         F. Subtract Line E from Line D.

                        (__________)        G. Enter your current outstanding loan balance(s).

     Step 1 Total       ___________         Subtract Line G from Line F.

     Step 2.            ___________         H. Enter 50 percent of the present value of your total account balance
                                            in the 457 plan including any outstanding loan balance.

                        (__________)        I. Enter your current outstanding 457 or 401 plan loan balance(s).

     Step 2 Total       ___________         Subtract Line I from Line H.

  The actual amount you may borrow will be calculated using your account balance on the day the loan was made.

                                                          VTA 401(a) LOAN/REFINANCE APPLICATION FORM
                                                                                      • Use this form to apply for a new loan or to refinance an existing loan.
                                                                                      • Please read the instructions on the reverse side of this form before
                                                                                        completing form.
                                                                                      • Please print legibly in blue or black ink.
                                                                                      • Please keep a copy of your completed application for your records.

                      Employer Plan Number              Social Security Number                                   Daytime Phone Number
   1                   1 0 6 0 7 1
                       ___ ___ ___ ___ ___ ___          ___ ___ ___ - ___ ___ - ___ ___ ___ ___                  (___ ___ ___) ___ ___ ___ - ___ ___ ___ ___
   Information        Name of Participant                                                                              Area Code

                      ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___
                      Last                                                                      First                                                                     M.I.

                     Mailing Address: ______________________________________________________________________________                                 Marital Status
                                                                                                                                                        Ë           Ë
                     City: __________________________________________ State: ___ ___                    Zip Code: ___ ___ ___ ___ ___                Married      Single

                     Loan Selection:       Ë    New Loan (Complete Parts 2, 3, and 5, if applicable)        Ë   Loan Refinance (Complete Parts 3, 4, and 5, if applicable)
                     Do you intend to continue working for VTA?            t    Yes    Ë   No

   2                  A. Loan Amount Requested $ ____________________                    OR             Ë    Maximum Dollar Amount Available

   New Loan           B. Loan Term Requested: ______________ (specify number of MONTHS per instructions on back of form)
                      C. Primary Residence Loan          Ë    Yes (Attach evidence of intent to purchase - see instructions on back of form)                   Ë     No
                      D. Purpose of Loan _____________________________________________________________________________

                     Please provide the following bank information. It is recommended that you also contact your bank to verify this information.
  3                  Any errors or omissions may result in a delay in properly applying repayments to your loan.
  Bank               Financial Institution's Routing Number                            Financial Institution's Telephone Number
  Information        ___ ___ ___ ___ ___ ___ ___ ___ ___                               (___ ___ ___) - ___ ___ ___ - ___ ___ ___ ___
                     Type of Depositor Account                   t    Checking              t     Savings
                     Name on Depositor’s Account: __________________________________________________________________
                     Depositor Account Number: ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___
                     Name of Financial Institution __________________________________________________________________________

  4                  A. Loan Amount Requested: $ ______________________ (specify additional loan amount per instructions on back of form)
  Loan                       OR   Ë    Maximum Dollar Amount Available
  Information        B. Loan Term Requested (specify remaining number of MONTHS per instructions on back) ____________________________
                     C. Purpose of Loan _________________________________________________________________________

                     I hereby apply for a loan, subject to and in accordance with the terms and provisions of VTA’s plan. I understand that the loan
  5                  will be subject to a loan fee being deducted from my account balance.
  Participant        I have chosen automatic debit to my bank account via ACH to repay my loan. I hereby authorize the VantageTrust Company
  Signature          (hereinafter called the “Trust”) to debit the above referenced account for my regular loan repayments beginning as soon as
                     possible. This authorization agreement is to remain in full force and effect until my loan has been paid off. If a change in bank
                     account information occurs, I understand that my instructions must be made in such time and in such manner as to afford the
                     Trust and depository a reasonable opportunity to act on it. This authorization agreement may also be terminated by the Trust. I
                     have read the “Important Loan Notice” and understand the consequences of delinquent payments. I understand the tax
                     implications, as well as the impact on my retirement account, in the event of loan default and/or deemed distribution.

                     I also understand that any amortization schedule or loan data received prior to receipt of the actual loan documents was for
                     illustrative purposes only. I understand that my signature on the loan check will constitute acknowledgement that I have
                     received and read the loan materials and agree to the terms therein. As required by law and under penalty of perjury, I certify
                     that the Social Security Number (Taxpayer Identification Number) I provided is correct.

                     ____________________________________________________________                               ___________________________________
                     Participant Signature                                                                      Date

                     ____________________________________________________________                               ___________________________________
  6                  Employer Approval Signature                                                                Date

  Authorized         ____________________________________________________________                   __________________________             _________________________
  Signature          Employer Contact Name (please print)                                           Phone                                  Fax

ICMA Retirement Corporation • P.O. Box 96220 • Washington, DC 20090-6220 • Toll Free 1-800-669-7400 • Fax: 1-202-962-4601 • En Español llame al 1-800-669-8216 •
1. Participant Information                                          4. Loan Refinance and Reamortization Information
You must currently be an active employee in paid status to          Complete Section 4 of this application if you wish to borrow an
request a new loan or refinance an existing loan. If, at the time   additional amount by refinancing your loan. The amount
of the loan application you are in a paid status (i.e., vacation,   requested is the additional loan amount desired. The reason
sick leave) but are not actively working, you must indicate your    for borrowing more money must be one that qualifies under
intention of returning to active work with VTA in order to be       VTA Loan Guidelines. A loan for a primary residence may be
eligible. If you are actively working, you must indicate your       reamortized, but not refinanced.
intention to continue working at VTA. Please complete all
participant information to avoid a delay in processing. Select      Use the 401(a) Reamortization Form if you are not requesting
either a new loan or loan refinance by checking the appropri-       an additional loan amount. A Loan Reamortization may allow
ate box. Availability is subject to the frequency restrictions      you to lower your interest rate, if current rates are lower than
stated in the Loan Guidelines.                                      your current Deferred Compensation loan, or to extend the
                                                                    length of the loan to the latest date allowed for that type of
2. New Loan Information                                             loan.
Complete this section to request a new loan. The loan amount        The loan term requested is the number of months over which
requested cannot exceed the dollar amount restrictions              you wish to repay the loan. This may not exceed the maximum
contained in the Loan Guidelines. The amount you actually           allowable term according to VTA’s Loan Guidelines. For
receive may be adjusted due to changes in your account              example, you want to refinance a two-year, nonresidential loan
balance on the day the loan is made.                                you were issued on January 1, 2001. You may extend the loan
                                                                    term repayment period, but not beyond January 1, 2006, the
The new loan term requested is the number of months over            maximum allowable term of the original loan. Special rules
which you wish to repay this loan. To assist you:                   may apply to the term of a refinanced loan.
12 months =   1   year    60 months = 5 years                       A loan refinance is subject to the same restrictions as a new
24 months =   2   years   120 months = 10 years                     loan.
36 months =   3   years   180 months = 15 years
48 months =   4   years                                             5. Participant Signature
The maximum allowable term for a nonresidential loan is five        Sign this application and submit it for VTA’s approval.
years and the maximum allowable term for a primary resi-
dence loan may not exceed 15 years.                                 6. Authorized Signature
ICMA-RC will convert the terms of your loan to the number of        Once you have completed and signed this form, submit it for
required monthly payments.                                          VTA’s approval.
A primary residence loan is allowed only for the purchase of a      Special Instructions
primary residence. Proof of intent to purchase a primary
residence must be attached to the loan application. Proof of        The interest rate on new and refinanced loans is determined
intent may include a contract to buy/sell real estate, including    by using the prevailing rate as specified in the Loan Guide-
signatures of BOTH buyer and seller. For non-residential loans,     lines. Loan Guidelines are available from VTA.
proof may include the amount of the unreimbursed medical or
dental expenses, or a bill for tuition and fees.                    ICMA-RC typically sends out loan documents and checks two
                                                                    business days after receipt of complete and approved applica-
3. Bank Account Information                                         tions received through 12 noon Eastern Time. Repayments will
                                                                    be scheduled to begin following the issuance of the loan.
Please attach a voided check or withdrawal slip to this form.

    • Be sure your current address is shown.                                 PLEASE KEEP A COPY OF YOUR COMPLETED
    • Financial Institution’s Routing Number: Please call your                   APPLICATION FOR YOUR RECORDS
      bank or financial institution to verify the number. It
      should be the same as the numbers provided in the
      lower left corner of your check or withdrawal slip.
    • Depositor Account Number: This is your Bank or
      Financial Institution Account Number.
           P.O. Box 96220
    Washington, DC 20090-6220
     Toll Free 1-800-669-7400
En Español llame al 1-800-669-8216


       REVISED APRIL 2006

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