In a recent article from Bloomberg Law, the provisions in the SECURE Act 2.0 that will allow employers to treat student loan repayment like retirement plan deferrals were analyzed. The end result eluded to the fact that today’s workforce needs and prefers direct assistance with their student loans.
Now is the time for employers to provide direct Student Loan Repayment as 45,000,000 borrowers are forced to resume monthly payments in October, after a 3.5 year pandemic-related payment holiday. These individuals will go from paying $0/month to $350/month on average. So when their employers help, they’ll be rewarded.
Employers are confused and have many misperceptions about the student loan provisions of Secure 2.0, and Peanut Butter is here to provide support and share best practices surrounding these types of programs. To learn more about how we can help your company thrive through student loan assistance, visit our pick-a-plan page for pricing on each level of service we offer, downloadable product specs, feature details, an annual budget calculator, FAQs, and more.
Read the original Bloomberg Law article at: https://news.bloomberglaw.com/daily-labor-report/401k-laws-appeal-fades-as-workers-face-student-debt-deadlines