Please do not download the Loan Form unless your retirement account is with Guardian or Nationwide.

Understanding Forms

Please refer to your Plan’s Summary Plan Description to see if your plan allows for loans. If not, you cannot apply for a loan at this time. Our goal at Creative Retirement Systems, Inc. (CRS) is to process your loan in a timely manner. Most common causes for delays in processing loans are as follows.

INCOMPLETE FORM

Loan forms not properly completed and (or) signed (Main cause)

STATUS UPDATES

Repeated phone calls to our office requesting status updates.

Form Request Process

In order to help process loans in a timely manner, we would like to walk you through the whole process.

  • STEP 1

    CRS receives a loan request (loan application) from an employee

  • STEP 2

    CRS reviews the paper work to make sure it is filled out correctly. If not, a notice is sent to the employee requesting additional information.

  • STEP 3

    Once CRS receives any missing information, a calculation is done to find out the maximum amount a participant can borrow.

  • STEP 4

    CRS sends a letter to the client giving them the terms of the loan and sends a request to the investment company to send a check to the trustee.

  • STEP 5

    Depending on the investment company, a check will be sent to you directly or sent to the plan trustee. The plan trustee will then forward the check to you. Also, some investment companies may require you to complete additional forms.

REQUEST STATUS UPDATE POLICY

In order to process loans in a timely manner, we are forced to restrict the amount of time we spend on the phone giving participants a daily update on their request. Please note that we will not return phone calls by participants requesting a status on a daily basis.

Form Submission Prerequisites

Please complete the attached paperwork to apply for a loan. Before you start completing the loan application, we suggest that you contact your investment company to check your account balance. If your account balance is less than $2,000, chances are that you will not meet the minimum loan amount requirement.

Please do not download the Loan Form unless your retirement account is with Guardian or Nationwide.
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