LOANS

If you need to borrow money from your retirement savings plan, you can request a loan in one of the three following ways:

Online Instructions

1. Log in to your account using your User ID and Password.
2. If you satisfy plan requirements, select Loan Modeling under the Loans tab.

Automated Participant Account Services (PAS) Line Instructions

1. Call (800) 377-9188, and enter your Social Security Number and PIN.
2. Press 3 to access the Loan menu.
3. Press 4 to apply for a loan.   Before applying, it may be helpful to Press 2 for the loan amount available and Press 3 for payment projections.
4. you need assistance, Press 0 and a representative will be happy to assist you with the loan application and questions between 7:00am and 10:00pm ET, Monday through Friday.

Participant Account Services (PAS) Instructions

1. Call (800) 377-9188 between 7:00am and 10:00pm ET, Monday through Friday.
2. Enter your Social Security number and PIN.
3. Press 0 to speak to a Participant Account Services Representative.

Outstanding Loan Balance on Employment Termination Date
When you terminate your employment, your entire loan balance becomes due. You must repay the loan in full before the loan payment deadline. The loan payment deadline is the earlier of (i) the date Wachovia processes your distribution from the Savings Plan or (ii) 60 days from the date your employment ends. 

If you do not repay the loan in full by the loan payment deadline, your loan balance, which includes interest accrued to date, will be foreclosed approximately 60 days after the date on which your termination is reflected on the payroll system. A foreclosure means the account balance in your retirement savings plan will be reduced by the amount of the loan (plus accrued interest) you have not repaid.  In addition, unless you meet one of the exceptions, the unpaid loan balance will be considered a taxable distribution subject to a 10% early withdrawal penalty.  Finally, you must report the unpaid loan balance (plus accrued interest) as taxable income on your individual income tax return.  This is not intended to constitute tax advice.  Tax issues can vary among individual participants. You should consult your personal tax advisor for tax consequences applicable to your personal situation.