If utilizing the TRA prototype document, if you terminate employment with your company prior to paying off your loan, you have two options. Your first option is to pay off your entire loan balance within 30 days of your termination date. Please contact your Plan Administrator to request a loan payoff amount. If you choose not to pay off your loan, then the outstanding amount will be considered a taxable distribution from your account and you will receive a Form 1099-R for the year in which your loan defaulted.