Tag: student loan repayment benefits

Employees Feel Employers Should Help Pay Student Loan Debt

IonTuition finds more than half (52%) of respondents still owe more than $15,000 in student loans, and the year-over-year data shows the number of respondents with more than $30,000 in student loans actually increased over time compared to initial borrowing.

IRS Approves Plan Sponsor’s Student Loan Repayment Benefit in 401(k) Plan

Because participants receiving a student loan repayment non-elective contribution can still make deferrals to the 401(k) plan and receipt of the contribution is not dependent on whether the employee makes deferrals to the plan, the IRS ruled the benefit will not violate the “contingent benefit” prohibition of the Income Tax Regulations.