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June 13th, 2023 Information & Insights for the 403(b) Community With Student Loan Payments Resuming, How Should Plan Sponsors Respond? The three-year freeze on student loan payments ends August 29, and plan sponsors have an opportunity to help relieve employees’ financial stress by offering student loan benefits.   Retirement Racial Wealth Gap Disproportionately Impacts Black, Hispanic Americans Debt and lack of access to a pension plan can make it especially difficult for Black and Hispanic Americans to maintain steady income in retirement, researchers find.  Ask the Experts Could the 15-Year Catch-Up Election Enable a Pre-Tax Catch-Up Deferral Under SECURE 2.0? Q: Our 403(b) plan eliminated the 15-year catch-up election several years ago due to the administrative complexity of the election and the fact that only a handful of people were using it. However, given the SECURE 2.0 Act of 2022 restriction forcing age-based catch-up elections to be Roth beginning in 2024 for those with prior-year wages exceeding $145,000, I thought that there may be some value in bringing back the 15-year catch-up election so that affected employees could make a catch-up election that is not restricted to Roth deferrals? US Public Pensions ‘Convinced’ Inflation is on Path to Moderation Following nine successive Federal Reserve interest rate hikes and inflation hitting a peak of 9.1% in June 2022, U.S. public pensions are ‘building for the long term.’ Did someone forward you this newsletter? Sign up here to get (b)lines directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850