Employers Can Incentivize Student Loan Repayments
According to a private letter ruling from the IRS, an employer can agree to make matching contributions for student loan repayment tied to its 401(k) plan. The program here included voluntary student loan repayment (SLR) contributions. Because the SLR contributions did not bar regular 401(k) contributions, the arrangement was permissible.
New blog today! Profile of Nonemployer Businesses