You need a simple, fast way to talk to the people who manage your retirement account. I get it — waiting on hold while your brain does math is the worst. This guide gives you the direct phone points, what to prepare, what to expect, and better options to consider if borrowing from retirement isn’t the smartest move for your FIRE journey. 📞
Quick answer
If you want the fastest path: call the participant support number for your plan administrator and select the option for loans or account services. Different plans use different numbers, so start with the participant phone number tied to your account. Below is a compact table with the most-used retirement contact numbers for Empower and MetLife to get you started.
| Provider | Common participant phone numbers |
|---|---|
| Empower | 888-943-8967 (general support) or plan-specific lines for workplace plans |
| MetLife | 1-800-543-2520 (participant access); other retirement / annuity numbers available for specific products |
Who you should call — and why it matters
Not all phone numbers are equal. There’s a difference between a general corporate line and the participant-support line that can actually process a loan request. Call the participant or plan-participant number. Those reps can access your account, explain plan rules, and start a loan application if your plan allows it.
Best time to call and trust signals
Call early in the morning, Eastern time if you’re in the US. That tends to minimize hold time. Trust the rep if they ask for specific account info but never give full account numbers or passwords over plain email. A legit rep will confirm identity by asking for the last four of your SSN, date of birth, and plan information — not your login password.
What to have ready before you call
- Recent pay stub or employer plan name so you can identify your plan sponsor.
- Your account or participant ID, or the last four of your Social Security Number.
- Exact loan purpose and an amount range — many plans have minimums and caps.
- Bank routing and account number if you want funds deposited directly.
- Notes about payroll deductions and whether you plan to stay with your employer.
What the rep will likely tell you
Expect these basics: whether your plan allows loans, the maximum you can borrow (often up to 50% of vested balance or $50,000, subject to plan rules), repayment term (commonly five years unless it’s a primary residence loan), how repayments are withheld, and tax consequences if you default. They’ll also tell you the timeline — often a few business days to process, sometimes longer if paperwork is needed.
Common reasons callers get frustrated — and how to avoid them
Frustration usually comes from calling the wrong number, not having plan details ready, or expecting a universal answer. Retirement plans are contractual. Two people at the same company might have different rules based on hire date or plan version. The time you save is the time you spend preparing.
Alternatives to borrowing from retirement
- Use an emergency fund — preserves long-term compounding.
- Consider a personal loan or a low-rate home equity line if available — avoids retirement-account opportunity cost.
- Talk to your employer about hardship distributions or short-term salary advances if applicable.
How a retirement loan affects your FIRE plan
Borrowing from retirement is often marketed as borrowing from yourself. That’s true on paper — interest goes back to your account — but payments are typically made with after-tax dollars and the borrowed principal stops earning market returns while it’s withdrawn. That can shave years off compound growth if the timing is unlucky. In short: it can be useful for short-term emergency needs, but be cautious if you’re using it to plug structural budget holes while chasing FIRE.
Case: quick call, fast decision
A reader once called on a Thursday after a medical bill arrived. They had the plan sponsor name and last four digits ready. The rep confirmed loans were allowed, explained the timeline (about 3 business days), and arranged direct deposit. The key was preparation — and asking about payroll repayment so they didn’t accidentally stop contributions entirely.
Step-by-step: how I recommend calling for a retirement loan
Start by logging into your retirement account and locating the participant contact info. If you can’t find it, use the participant phone number most associated with your plan. When you call: state your name and participant ID, say you’re calling about a participant loan, confirm whether loans are permitted and the maximum, ask about interest rate and repayment method, and request estimated processing time and required forms. Ask how the loan will affect matching contributions during repayment.
How to verify a phone number is legit
Get the number from your online account or plan statements. If you find a number elsewhere, double-check it by logging into your account and confirming the same number under contact or help. If a rep requests sensitive info beyond identity verification or pressures you to act via unsecured channels, hang up and call the participant line shown in your account.
When to involve your HR or plan sponsor
If you’re unsure which plan you’re in, if your payroll deductions aren’t being processed correctly, or if you need spousal consent for a loan, loop in HR. They can confirm plan sponsor details and sometimes expedite administrative steps.
One more thing about MetLife contacts
MetLife services many retirement products and has participant-specific numbers for pensions, annuities, and other products. When you call, clearly state whether you’re a plan participant, annuitant, or employer sponsor so you’re routed correctly.
FAQ
How do I find the right Empower retirement loan phone number for my plan
Log into your retirement account and look for the participant contact or help section. If that’s not available, use the general participant support number and ask to be routed to the loan or account-services team for your plan.
Can I call MetLife to ask about a loan from my employer plan
Yes. Call the participant line for MetLife retirement services and explain you want information about participant loans. They’ll confirm whether your specific plan offers loans and the steps to apply.
What information will the phone rep ask for
Expect identity verification: name, date of birth, last four of Social Security Number, and participant ID or plan sponsor name. They’ll also ask why you want the loan and how you plan to repay it.
Will a retirement loan show up on my credit report
No. Participant loans are internal to your retirement account and don’t go on your credit report. That’s one reason some people prefer them. But lack of credit reporting doesn’t make them risk-free.
How quickly can a retirement loan be processed after I call
Often a few business days if all paperwork is in order. Some plans require signed forms and a payroll deduction setup which can extend the timeline.
Does taking a retirement loan stop my contributions or employer match
Not necessarily. Some plans allow continued contributions and matching while you have a loan. Others temporarily suspend matches. Ask the rep to confirm your plan’s treatment of contributions and matches during a loan.
What happens if I leave my job with an outstanding loan
Most plans accelerate repayment upon separation. If you can’t repay, the unpaid balance may be treated as a distribution and could be taxable plus subject to penalties if you’re under the early-withdrawal age.
How much can I borrow from my 401(k) or 403(b)
Rules vary by plan, but commonly you can borrow up to 50% of your vested balance or $50,000, whichever is less. Your plan document defines the exact limits.
Is the interest on a retirement loan paid to me or to the plan provider
You typically pay interest back into your own retirement account. That makes it feel like you’re paying yourself interest, but repayments are after-tax and the principal isn’t invested while out of the market.
Will a retirement loan hurt my chance of reaching FIRE
It can. The loan reduces invested capital and the lost compounding can be significant over time. Consider the trade-off carefully and treat loans as a last-resort bridge rather than a growth strategy.
How do I ask for a plan loan when I call the support line
Say your name, verify identity, and state: you’re calling to inquire about a participant loan and ask for eligibility, maximum amount, interest rate, repayment schedule, and processing timeline. Request the application steps to start the loan.
Are there fees for taking a retirement loan
Some plans charge a setup or maintenance fee. The rep will list any administrative or origination fees tied to the loan.
What documentation will I need to mail or upload
Often a signed loan agreement and election form. Some plans accept electronic signatures and in-app uploads. Ask the rep for the exact documents and preferred upload method.
Can I get money the same day I call
Rarely. Most plans need a signed agreement and payroll deduction setup; same-day cash is uncommon. Emergency exceptions depend on plan rules and are rare.
Should I call Empower or my employer first
Start with your online account to find the participant number. If unclear, call the general participant support number and the rep will confirm your plan sponsor and route you correctly. HR can help if plan identification is the issue.
Can I handle the whole loan process online instead of calling
Many plans offer online loan applications. If the online flow is available, it’s often faster. Call only if you hit a roadblock or prefer human help.
How can I confirm a rep is legitimate when they call me back
Ask for their reference or case number and call the participant phone number listed in your online account to verify. Never provide passwords or full Social Security numbers by unsolicited phone or email.
Does MetLife handle loans for all plan types
MetLife handles many retirement products, but whether your plan’s loans are administered by MetLife depends on your plan sponsor. Ask the rep to confirm who administers loans for your plan.
If I can’t reach a rep, what should I do
Try calling early morning, use in-app chat if available, or email the participant support address in your account portal. If all else fails, contact HR for direct plan sponsor guidance.
Will a loan payment default affect my retirement account permanently
If a loan is treated as a distribution due to default, the unpaid balance becomes taxable income and may incur penalties. That’s a serious risk; don’t assume default is harmless.
What’s the difference between a hardship withdrawal and a loan
A hardship withdrawal is a distribution — you may owe taxes and penalties — and you permanently reduce your balance. A loan must be repaid but avoids immediate taxation if repaid on schedule. The availability and rules differ by plan.
How do I request spousal consent
Some plans require spousal consent for loans. Ask the rep for the spousal consent form and follow the instructions for notarization or online consent, as your plan requires.
Can I roll a loan into a new employer’s plan
Usually loans cannot be rolled. If you leave your job, many plans require repayment; if you can’t repay, the outstanding balance may be treated as a distribution. Check the rules with both plans before assuming portability.
How long should I keep records after taking a loan
Keep loan agreements, payoff confirmations, and correspondence until you’ve repaid the loan and reconciled your account for tax and audit purposes — around seven years is a safe window for financial documents.
Who enforces plan loan rules if something goes wrong
If the plan administrator mishandles a loan, the plan sponsor and the plan’s ERISA fiduciaries have responsibilities. You can raise concerns with plan HR and, if needed, seek guidance from regulatory resources about plan compliance.
Can a retirement loan be used to buy a house
Some plans allow longer terms for a primary residence loan. Check eligibility, maximums, and documentation with the rep to confirm if your plan offers this option.
- Empower Support
- Empower
- MetLife Retirement & Income Solutions
- MetLife Participant Contact
- Internal Revenue Service
Want a one-line cheat sheet you can copy into a note before you call? Here it is: “I am calling as a plan participant for a participant loan. Please confirm eligibility, maximum amount, interest rate, repayment method, and required forms.” Keep that line handy. It saves five minutes of explanation and most of the hold time. Good luck — and call prepared. You’ll thank yourself later. 🙌