Frankie has a 401k account at his employer with a total vested balance of $66,000. Frankie wants to take out a $401k loan for $30,000 to buy a fishing boat. Assuming the plan and the plan document allow 401k plan loans ... can Frankie do this?

a. Yes, bacause Frankie can take out a loan for up to $50,000.

b. No. Although Frankie could take out a loan for $33,000 his reasons for the loan do not qualify as a valid reason for a 401k loan.

c. Yes, because a reason for the loan is not required and he can take out a loan for up to $33,000

d. No. Frankie does not have enough of an account balance to qualify for a $30,000 loan.