S&P Global Inc. 401(k) Summary Plan Description

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Loans and Withdrawals

Loans

How Much You Can Borrow

The minimum loan you may take is $1,000. The maximum loan you can receive is limited to the least of:

  • 50% of your vested Plan Account balance; or
  • $50,000 minus the highest outstanding loan balance you may have had in the 12 months prior to requesting a loan (and reduced further by the amount of any loans deemed distributed and not repaid).

Your loan is secured by the sub-accounts in your Plan Account noted above under Loans.

Because of the limits on how much you can borrow from your Plan Account, if you do have hardship, you may take part of the money you need for the immediate and heavy financial need through a loan and part through a hardship withdrawal, provided you have taken the maximum amount which can be granted as a loan.