Smart Benefits: Could 401(k)s be the Answer to Student Debt Repayment Benefits?
Monday, September 24, 2018
The ruling effectively treats the match on student loan repayments just like a regular match, allowing the employer to contribute to employees’ 401(k)s while workers reduce their debt. And that means employees at the company no longer have to make the difficult choice between paying off loans or saving for retirement.
Could your company offer something similar? Not yet. The ruling was a private one so it can’t be used as precedent. Your company would need to request its own such ruling or await formal guidance from the IRS on the issue.
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