Peanut Butter Now Available on ADP Marketplace

Feb 20, 2019 9:50:11 AM / by Corinne Thomas posted in Press Room

Peanut Butter announced today that its Student Loan Assistance programs are now being offered through ADP Marketplace, an online storefront for HR and benefit solutions offered by ADP, one of the world’s leading providers of human capital management solutions.

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Bipartisan, bicameral action toward pre-tax treatment of Student Loan Repayment -- but don't wait

Feb 12, 2019 12:01:43 PM / by David Aronson posted in Government Relations

Over the past few days in Washington, D.C., a bi-partisan group comprising 20% of the members of the U.S. Congress introduced the Employer Participation in Repayment Act. If passed, the legislation will save companies approximately 10% of the cost of offering Student Loan Repayment, allowing employers to make pre-tax contributions toward student loans by expanding the Section 127 exemption that currently allows companies to make pre-tax tuition payments.

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The Truth Behind Student Loan Refinancing Savings

Student loans can be hard to understand and often times borrowers can be unclear on the exact differences between various types of loans. However, it's extremely important that borrowers continue to seek out additional understanding in order to make the appropriate decisions. The same can be said for student loan benefits offered by employers. What seems like a "benefit" may have the opposite impact for employees and employers need to be acutely aware of what to look out for when evaluating vendors.

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WGN Business Lunch opens year with Peanut Butter (not the sandwich)

Jan 16, 2019 11:00:36 AM / by David Aronson posted in Insights, Student Loan Debt

49 out of 50 college-educated Americans have a job today. How will your company attract talent in 2019?

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Companies Are Using Student Loan Assistance to Grow Their Businesses

Kiswe, a video streaming startup and Peanut Butter customer, has received positive press after deciding to introduce a Student Loan Assistance late last year. In an excerpt from the article, which is shared below, Kiswe's CEO, Mike Schabel, speaks on his personal experience with student loan debt and how that encouraged him to help employees at his company shave years off paying back their loans by offering the benefit.  

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Extra Budget Dollars Available After Open Enrollment? It's an Easy Decision

The moment you've been preparing for your whole life, er, year has finally arrived. It's basically the Olympics for Human Resources professionals. It requires preparation and dedication, it's not for the faint of heart. You're sure to encounter a few set backs or hiccups along the way, but ultimately you keep moving forward until the finish line is in sight. The moment I'm referring to is Open Enrollment, which for most companies has just happened or is happening at the very moment as you're hiding under a desk to read this article and restore your sanity. 

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A Dollar a Day Towards Your Employees' Student Loans Goes a Long Way

Nov 15, 2018 11:36:49 AM / by Corinne Thomas posted in Differentiation, Retaining Talent

One common misconception of Student Loan Assistance is that it is a costly benefit. Employers often think they need to offer upwards of $100 or more each month to rollout this type of benefit program. We're here to tell you that's not the case. By implementing best practices when launching a Student Loan Assistance program, employers can see significant employee engagement that costs the company less than the free coffee offered in the break room each month. 

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How to Get Executive Approval for a Student Loan Assistance Program

It's mid-November, you've done your research for 2019 benefits and you've decided that you want to offer Student Loan Assistance to your employees come 1/1. That's great! However, you quickly realize that you need to take this to your leadership team for budget approval and you fear it's going to go as many of them do, without a firm answer or approval, leaving you in limbo for the time being. Rather than going it alone, let's join forces to build the business case for your company. 

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Peanut Butter awarded 1st place in Plug & Play Fintech Program

Nov 15, 2018 9:31:49 AM / by Corinne Thomas posted in Press Room

Our company was honored to be selected earlier this year for the Fintech program at Plug & Play, a Silicon Valley-based organization that connects some of the world’s largest and most innovative companies with the most promising technology firms in their industries.

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Why Offer a Student Loan Assistance Benefit?

The original version of this post was written by Kyleen Englestad and published on Marsh and McLennan Agency's blog. You can read the original post here

According to the U.S. Census Bureau, only a third of employees who have access to a retirement program are actively using it to save for their future. Many either don’t see the benefit at this stage in their lives or they simply can’t afford to contribute until they have paid off their student debt.

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Diversity and Inclusion Leaders Can't Ignore Student Loans

Did you know, companies that are diverse boast 19% more revenue than those that are not? It's true, according to a recent BCG study. This finding could be part of the reason one in three human resources leaders stated that improving diversity would be a main focus throughout 2018. To do so, many top firms, from technology to higher education, have made a place on the leadership team for someone who focuses on this area of the business. 

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The Benefit That Won't Burden Your HR Team

With 2019 right around the corner, your orginization may be thinking you missed the boat on adding some new benefits to next year's offering. While that may be the case for other benefits, it doesn't have to be the case for Student Loan Assistance. Peanut Butter has streamlined the process, so you can begin offering it today (it's true - which is one of the reasons we have a 5-star rating on G2 Crowd)!

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Plug and Play Selects Startups for Final Accelerator Batch of the Year

Oct 15, 2018 8:23:51 PM / by Corinne Thomas posted in Press Room

The original version of this post was published on Technews Report and can be found here

Global accelerator program Plug and Play announced last week it has selected 158 startups to participate in its Winter 2018 batches. According to Plug and Play, the selected startups will take part in one of the following programs: Energy & Sustainability, Enterprise 2.0, Health, Insurtech, Internet of Things, Mobility, Real Estate, or Travel & Hospitality.

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One Benefit Will Make Millennials Stay At Your Company 36% Longer

The original version of this post was written by Melanie Curtin and published on Inc.com. You can see the original version here

It used to be that when you went to college, you were relatively certain you'd be able to repay your student loans within a decade--or even less.

A recent survey, however, showed that 60 percent of Millennials (those now 19-35) don't think they'll be able to pay off their loans until they're in their 40s.

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NEW: IRS Ruling on Tax-Advantaged Student Loan Repayments

In August, the IRS issued a groundbreaking ruling that could affect the tax treatment of employers’ student loan repayment contributions. We can help you understand what the ruling means, how to explain it to your stakeholders, and how companies can act on it to offer a differentiated benefit before their competitors do.

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A Winning Tool in the War for Talent

Hiring is hard. While this has always been the case, it is ringing true now more than ever. As the unemployment rate nears its lowest point in 50 years, the number of people leaving their jobs continues to go up. Workers feel confident that if (read: when) they leave their current company, they'll be able to find better pay and/or a better position elsewhere. This has not only made it increasingly difficult for employers to retain high-performing employees, but it's also create additional competition in getting top talent to accept offers. 

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Peanut Butter CEO Preparing to Present at LIMRA Conference

Aug 15, 2018 8:40:43 PM / by Corinne Thomas posted in Student Loan Repayment

Limraa worldwide research, consulting, and professional development organization that helps more than 600 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness, will be hosting its annual Group and Worksite Benefits Conference from September 11-13, 2018 at the Mohegan Sun in Uncasville, CT. On the second day of the conference, our CEO, David Aronson, is presenting alongside our partner Aflac, who will be represented by Jon Hethcox, Partner Relationship Manager.

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In Some Cases Convenience Comes at a Cost

Aug 15, 2018 8:07:08 PM / by Corinne Thomas posted in Insights, Decisions, Winning Together

An earlier version of this post was originally published on the Peanut Butter blog on May 9, 2017 by David Aronson. You can view the original post here

Making payments towards employees student loans via payroll deduction: is it a convenience or does it come with a cost? As several vendors have begun requiring employees to make their minimum monthly student loan payment via payroll deduction as a requirement of Student Loan Assistance Programs, companies may look at this as an added perk that will help employees. What some fail to understand, however, is that they may actually be putting employees at a disadvantage if they choose to administer their program this way.

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Student Loans Impacting Retirement in More Ways Than One

Aug 15, 2018 7:46:00 PM / by Corinne Thomas posted in Financial Planning, Financial Wellbeing

It's no secret that student loans are causing many to delay saving for retirement. As students need to take out more and more to pay for college, the challenge in paying their loans back continues to grow. However, it is not just the recent graduates whose retirement plans are impacted by student debt. Recent studies show that some parents are continuing to work past the age of retirement to help pay off their student loans. Keep reading to learn more about the impact student loans have on the older generation. 

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Make the Most of Your Student Loan Assistance Program

As we covered in our last post, Peanut Butter makes it extremely simple for employers to begin helping employees manage their student debt by offering Student Loan Resources. When companies provide access to Student Loan Resources, employees are able begin taking charge of their student loans immediately. However, when companies are ready to accelerate their impact, they can begin offering Student Loan Repayment with a few clicks of a button through their Peanut Butter Dashboard.

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