I graduated from school in 1998. 2023 was the year that all my loans were paid off, loans that were just made for law school, and my one-year Tax LLM program. So I understand how terrible student loans can be.<\/p>\n
One facet of SECURE 2.0 that got people talking is the provision to allow a 401(k) match based on a participant\u2019s student loan payment rather than deferrals.<\/p>\n
Again, for most small and medium-sized plans, I truly doubt they will implement this change. Many plans don\u2019t offer a match and I think for those that do, any hurdles put in their place by the Internal Revenue Service is going to cut down on interest.<\/p>\n
A survey showed that more than 60% of plan sponsors will not add the provision. Only about 5% will add, while about 19% are considering it.<\/p>\n
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