Student loan borrowers may be able to take advantage of a new workplace benefit that would allow employers to contribute towards their 401(k) while they pay off their student loans. The new student debt provision is part of the Securing a Strong Retirement (Secure) 2.0 Act, which passed in 2022, though some of its retirement-related provisions only went into effect this January. Under this legislation, if an employee makes a student loan payment, employers can match that contribution towards an employee’s retirement plan, even if that worker is not able to make any personal contributions to their 401(k). [time-brightcove not-tgx=”true”] “This is great news for both employees
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