11.09.2018 03.20 CDT
A recent IRS private letter ruling approved an innovative approach that allows employees to balance student loan repayments with saving for retirement.
By combining a 401(k) plan with student loan repayments, this approach may provide employers an opportunity to help employees meet student loan obligations without adding a costly new program.
The IRS recently approved a new plan design that allows employees to receive employer retirement contributions either by (i) making deferrals into the employer’s retirement plan, or (ii) making student loan repayments.
