Loans taken from a 401(k) or 457 may be paid off at any time using one of the following payment methods: Cashier's Check; Money Order; Personal Check. Org or call our office at 801-366-7720 or 800-688-401k.The Deseret 401(k) Plan is a traditional defined contribution plan. You contribute a percentage of your income to your account and your employer. Your 401(k) plan may allow you to borrow from your account balance. However, you should consider a few things before taking a loan from your 401(k). I'd just disclose it to your loan officer. Retirement plans may offer loans to participants, but a plan sponsor is not required to include loan provisions in its plan. You may be considering cashing out your 401(k) to pay off debt. Learn about the pros and cons of withdrawing from your retirement savings, with Discover.