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City of Mounds View Staff Report <br /> September 30, 1997 <br /> Page 2 <br /> • <br /> resolution and has approved the format. <br /> • New laws allow loans to employees. This may increase administrative fees and may <br /> defeat the intent for offering the program which was to provide funds for retirement. The <br /> U.S. Treasury has yet to issue guidelines for allowing and administering such loans. It is <br /> recommended to not allow loans at this time. <br /> The attached information is a summary of the plan and proposed change. If you would like the <br /> detailed information, please contact me and I will forward such information to you. <br /> • <br /> • <br />