News & Analysis as of

Private Letter Rulings Employer Contributions

Jackson Lewis P.C.

SECURE 2.0 Series Part 7: Matching Contributions Based on Student Debt Repayments and Financial Incentives

Jackson Lewis P.C. on

Additional Tools for Employers to Encourage Retirement Savings- Matching Contributions on Student Debt Payments- One of the most eagerly anticipated provisions of the “SECURE 2.0” legislation is the ability for...more

Best Best & Krieger LLP

Take Your Pick – Employees Allowed to Choose Between Future 401(a) Plan Contributions and Future HRA Contributions

A recently issued IRS private letter ruling may provide public agencies and their employees with another way to give employees more control over the types of retirement benefits they will eventually receive....more

Locke Lord LLP

Legislation Proposed to Allow Employers to Make Matching Contributions on Student Loan Repayments

Locke Lord LLP on

Two bills have been introduced in the Senate that would allow employers to make matching contributions under 401(k), 403(b), governmental 457(b) and SIMPLE plans as if the participant’s student loan payments were salary...more

Holland & Hart - The Benefits Dial

Start spreading the news…student loan 401(k) match revenue ruling in the works

As you may recall, Private Letter Ruling 201833012 (the “PLR”), concerning the IRS’ approval of Abbott Laboratories’ plan to implement 401(k) matching contributions on student loan repayments, was released to much fanfare in...more

McDermott Will & Emery

Student Loan Benefits And Other 401(K) Developments

McDermott Will & Emery on

Diane M. Morgenthaler and Jeffrey M. Holdvogt recently presented the webinar “Student Loan Benefits and Other 401(k) Developments” at the Worldwide Employee Benefits Network Chicagoland program. In the presentation, they...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Student loan match legislation proposed

Sen. Ron Wyden (D-OR) has reintroduced legislation that would permit 401(k), 403(b), SIMPLE and governmental 457(b) retirement plans to make matching contributions to workers as if their student loan payments were salary...more

McAfee & Taft

Gavel to Gavel: New 401(k) plan design could help repay student loans

McAfee & Taft on

Your employees likely have more student loan debt than any other kind of consumer debt, except mortgage debt. If you run an internet search using “amount of student loan debt,” you will quickly learn that Americans owe more...more

Snell & Wilmer

A New Perspective on Student Loan Repayment Benefits

Snell & Wilmer on

On August 17, 2018, the Internal Revenue Service (the “Service”) published a Private Letter Ruling (the “PLR”) describing a unique student loan repayment program in the context of a qualified retirement plan....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Student Loan Repayments or Retirement Savings? Maybe Both . . .

Recent statistics show that approximately 70 percent of college graduates will leave college with an average of at least $30,000 in student loan debt. Cumulatively, the national student loan debt is approximately $1.5...more

Spilman Thomas & Battle, PLLC

The Way of the Future: Student Loan Benefit Plans

According to a recent study, Americans currently owe approximately $1.4 trillion in student loan debt. With increasing pressure to pay off student loans, some employees choose not to contribute to retirement programs offered...more

Laner Muchin, Ltd.

IRS Approves 401(k) Student Loan Repayment-Based Employer Contributions

Laner Muchin, Ltd. on

Last month, the IRS issued a Private Letter Ruling in which it approved a company’s proposed program to condition employer contributions to a 401(k) plan on an employee making student loan payments....more

Perkins Coie

IRS Charts a Path to a 401(k) Plan Student Loan Feature—Will Plan Sponsors Follow?

Perkins Coie on

The IRS released a private letter ruling on August 17, 2018, in which it approved a student loan repayment benefit that was connected to an employer’s contributions to its 401(k) plan. Though the IRS’s ruling applies only to...more

Holland & Knight LLP

IRS May Allow Employer Contributions to 401(k) Plans for Employees Repaying Student Loans

Holland & Knight LLP on

• With growing student loan debt pushing employees to delay contributing to their employers' 401(k) plans, many employers have been looking for ways to help their employees save for retirement. • A recent Internal Revenue...more

Vedder Price

Employee Benefits Update: IRS Private Letter Ruling Approves 401(k) Student Loan Benefit Programs

Vedder Price on

On August 17, 2018 the IRS released a private letter ruling (PLR 201833012) addressing an employer’s proposal to amend its plan to include a student loan benefit program. Under the program, the employer would make a...more

Jackson Lewis P.C.

In Private Letter Ruling, IRS Approves 401(k) Student Loan Repayment Benefit

Jackson Lewis P.C. on

The IRS has released a Private Letter Ruling (“PLR”) 201833012, in which it approved a student loan repayment program as a 401(k) benefit. Although the PLR can only be applied by the taxpayer/plan sponsor requesting it, it...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

IRS approves tying student loans to 401(k) employer contributions

The Internal Revenue Service (IRS) issued a private letter ruling which allowed an unnamed employer (some say it’s pharmaceutical giant Abbott) to make 401(k) contributions to participants who are repaying their student...more

Foley & Lardner LLP

A New Way to Use Your 401(k) Plan to Attract and Retain Recent Graduates

Foley & Lardner LLP on

According to a recent report, the average student loan debt for a Class of 2016 graduate is $37,172. As recent graduates enter the work force, they often choose not to contribute to their employers’ 401(k) plans and lose out...more

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