What is a loan?
A "loan" is money you borrow from your plan and pay back to yourself (with interest) over a set time period.
Highest amount you can take as a loan
To determine the highest amount you can take as a loan, visit the Loan options link below.
Types of loans allowed by your plan
- General purpose loan
- Principal residence loan
Helpful links:
What is a withdrawal?
A "withdrawal" is money you take from your plan without having to pay it back.
What is a hardship withdrawal?
A "hardship withdrawal" can only be used to pay for an immediate and serious financial need. You'll most likely need to provide documentation to prove your hardship.
Highest amount you can take as a withdrawal
To determine the highest amount you can withdraw, visit the Estimate and request a withdrawal link below.
Helpful links:
What is a cash-out?
A "cash-out" is when you take all the money out of your retirement plan. You can only do this if you no longer work for the business that provides your retirement plan.
Payment options
On the Plan Options page (link below), select "Withdraw cash" to receive all your money in one payment or "Set up retirement plan paychecks" to receive it in parts over time.
Helpful links:
What does it mean to rollover from another plan?
This means transferring money into your Vanguard retirement plan from a qualified retirement plan or individual retirement account (IRA).
Helpful links:
What is paycheck deduction?
Your "paycheck deduction" is the amount of money taken from your paycheck and put into your retirement plan.
Annual increase
"Annual increase" is an optional feature that helps you save more money for retirement by automatically increasing your paycheck deduction each year.
Savings cap
Your "savings cap" is the highest percentage allowed for your paycheck deduction. You can change your savings cap, but the lowest and highest percentage you can choose is determined by your plan rules.
Helpful links:
Payment amount
- Outstanding balance - Pay off your entire loan balance in one payment
- Other amount - Pay a dollar amount of your choosing
Payment options
- Electronic bank transfer (EBT) - Send the money directly to your bank account. The transfer takes 3-4 business days if you already have EBT set up. Setting up EBT puts an automatic 10-day hold on your account.
- Check - Send a check by U.S. mail. It typically takes 7-10 business days for Vanguard to receive the check. You can send a cashier's check, bank check, or money order, but not a personal check. Your printed loan payment form must be sent with the check.
Helpful links:
What is a beneficiary?
A "beneficiary" is a person you choose to inherit your retirement plan savings in the event of your death. Many plans require you to name your spouse as your beneficiary if you're married.
Types of beneficiaries
- Primary beneficiary - Receives your assets after your death. If he or she is deceased at the time of your death, his or her share of your assets will be divided among your surviving primary beneficiaries (if any).
- Contingent beneficiary - Receives your assets only if you have no surviving primary beneficiaries at the time of your death.
Helpful links:
Unchangeable info
Certain plans don't allow you to change your personal info on Vanguard.com. If you move to a new address or change your name and aren't able to change that information on the website, please contact your employer's human resources department.
Helpful links:
Investment change options
There are four different ways you can change the way your retirement savings are invested:
- Exchange funds - Move an exact amount of your current balance between your funds.
- Change current investment mix - Change the percentage of your retirement savings in each of your funds.
- Change paycheck investment mix - Change the percentage of your paycheck that goes into each of your funds.
- Rebalance account - Automatically match your current and paycheck investment mixes. Certain plans don't allow this option.
What is an asset mix?
Your asset mix is how the money in your retirement plan is spread between stocks, bonds, and short-term reserves.
Helpful links:
What is a termination?
"Termination" means leaving your employer for any reason. Examples include retiring, getting a new job, being fired, and being laid off.
Your plan options after termination
There are six options to choose from when your plan has been terminated. Certain plans allow you to combine options while other plans don’t allow certain options at all:
- Rollover to a Vanguard IRA - Move your money to an individual retirement account with Vanguard.
- Leave your money in the plan - Leave your money where it is for as long as your plan allows.
- Rollover to another qualified retirement plan - Move your money to a qualified retirement plan outside Vanguard.
- Rollover to an IRA at another provider - Move your money to an individual retirement plan outside Vanguard.
- Withdraw cash - Take all the money from your plan in one payment. Taxes may apply.
- Set up retirement plan paychecks - Take the money from your plan in periodic payments. Taxes may apply.
Helpful links:
Stay up to date on your transaction
This is where you can check the status of your pending loan, withdrawal, or other transaction.
Have notifications sent to your phone
By signing up for text message notifications, you can have updates on your transaction sent directly to your phone.
Helpful links:
Vanguard® Participant Services
(Employer-sponsored retirement plans)
English-speaking participants:
Mon.–Fri. 8:30 a.m. to 9 p.m., Eastern time
800-523-1188
Spanish-speaking participants
Mon.–Fri. 8:30 a.m. to 9 p.m., Eastern time
800-828-4487
Vanguard Client Services
(For assistance with investing outside your employer-sponsored plan)
Mon.–Fri. 8 a.m. to 8 p.m., Eastern time
800-662-2739
Vanguard Brokerage Services®
(Stocks, bonds, CDs, and non-Vanguard mutual funds)
Mon.–Fri. 8 a.m. to 8 p.m., Eastern time
800-992-8327
Calls from outside the United States
Learn how to call toll-free from outside the United States.
Text telephone for the hearing impaired
Vanguard® Participant Services 800-523-8004