You are permitted to borrow from your JRB retirement account. A loan provides an opportunity to access your money without taking a taxable distribution.

Keep in mind that, by taking a loan, you miss out on potential investment gains while the money is not in your account.

For more information, or to apply for a loan, please call us at 888-JRB-FREE (572-3733).

Standard Loans

You can borrow up to 50% of your account balance to a maximum of $50,000. You can only have one standard loan outstanding at a time.

Interest on the loan is equal to the prime rate at the time you take the loan. Your payments, both principal and interest, are redeposited into your JRB account. There is a one-time set-up fee of $150 to obtain a loan. Loans generally need to be repaid within five years.

Disaster Relief Loans

At their March 15, 2018 meeting, the JRB Board of Trustees adopted an amendment to the JRB Retirement Plan which relaxes loan provisions for those living in a federally declared disaster area.

Loans are available to support plan participants, their spouse, their dependents and other linear relations.

A disaster relief loan allows you to borrow up to 100% of your JRB account balance to a maximum of $100,000. These loans need to be repaid in five years following the end of a grace period. You are permitted to obtain one disaster relief loan regardless of whether you have a standard loan outstanding.