[header] How to use pensions for collateral loans [title] Determine what type of retirement plan you have. [step] Look at any retirement plan documents you have to determine if your plan is a 401 (k) or an ira. If you have an ira, you cannot use your retirement plan as collateral for a loan. 
The irs considers this to be a " prohibited transaction. " you also cannot borrow from your ira.