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401k › Student Loans › Employee Contributions

Patterson Belknap Webb & Tyler LLP

Interim Guidance on Matching Qualified Student Loan Payments

Patterson Belknap Webb & Tyler LLP on

Until recently, employer matching contributions under qualified plans were required to be conditioned solely upon employee contributions made to the plan. However, one of the many changes enacted by the Consolidated...more

McGuireWoods LLP

IRS Gives Guidance on Student Loan Payment Matching Contributions

McGuireWoods LLP on

IRS Notice 2024-63, published Aug. 19, 2024, provides interim guidance for plan sponsors on the SECURE 2.0 Act provision permitting employers to offer matching contributions to their retirement plans — including 401(k) and...more

Snell & Wilmer

2023 End of Year Plan Sponsor “To Do” List (Part 3) Qualified Retirement Plans

Snell & Wilmer on

As 2023 comes to an end, we are pleased to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. Part 1 covered health and welfare plan...more

Kaufman & Canoles

ESOPs & Employee Benefits Q4 2022 Client Update

Kaufman & Canoles on

Happy New Year from the K&C ESOPs & Employee Benefits group! We hope 2023 finds you off to a healthy and productive start.  The last quarter of 2022 saw significant updates in the benefits field—as the year was drawing...more

Warner Norcross + Judd

SECURE 2.0 is Finally Here! Warner Analysis Part 1

Warner Norcross + Judd on

The long-awaited sequel to the SECURE Act enacted in 2019 is finally here. On December 29, 2022, President Joe Biden signed the Consolidated Appropriations Act of 2023, which includes the SECURE 2.0 Act of 2022 (“SECURE 2.0”...more

Houston Harbaugh, P.C.

SECURE 2.0 Act of 2022 Makes Sweeping Retirement Plan Changes

Houston Harbaugh, P.C. on

The 2022 holiday season brought a long-awaited gift from Congress; the retirement plan bill known as “SECURE 2.0” (successor to 2019’s Setting Every Community Up for Retirement Enhancement Act, the original “SECURE Act”) was...more

McAfee & Taft

Gavel to Gavel: New 401(k) plan design could help repay student loans

McAfee & Taft on

Your employees likely have more student loan debt than any other kind of consumer debt, except mortgage debt. If you run an internet search using “amount of student loan debt,” you will quickly learn that Americans owe more...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The 401(k) match-student loan program is becoming a big thing, at least marketing wise

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Ever since the Internal Revenue Service opined that one particular 401(k) plan could use matching contributions instead to help employees pay off your student loans. On paper, a great idea since I love options. As with any...more

Snell & Wilmer

A New Perspective on Student Loan Repayment Benefits

Snell & Wilmer on

On August 17, 2018, the Internal Revenue Service (the “Service”) published a Private Letter Ruling (the “PLR”) describing a unique student loan repayment program in the context of a qualified retirement plan....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Student Loan Repayments or Retirement Savings? Maybe Both . . .

Ogletree, Deakins, Nash, Smoak & Stewart,... on

Recent statistics show that approximately 70 percent of college graduates will leave college with an average of at least $30,000 in student loan debt. Cumulatively, the national student loan debt is approximately $1.5...more

Perkins Coie

IRS Charts a Path to a 401(k) Plan Student Loan Feature—Will Plan Sponsors Follow?

Perkins Coie on

The IRS released a private letter ruling on August 17, 2018, in which it approved a student loan repayment benefit that was connected to an employer’s contributions to its 401(k) plan. Though the IRS’s ruling applies only to...more

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