A and b are both true if your employer permits loans. 2014 contribution limit for 401k is $17,500 a traditional IRA is $5,500.

a is true. However, if you leave your job before the loan is paid back, it is considered a withdrawal. A withdrawal incurs penalties.

Yer she did

Which of the following statements is true -

a. You can borrow from a 401k without paying a penalty, but must repay with interest.

b. 401ks have higher limits than traditional IRAs.

c. none of the above statements are true.

Any help would be widely appreciated, thanks.