Katrina Veldkamp's recent article for Bloomberg Law addresses the new provisions introduced by SECURE 2.0 for matching contributions for student loan repayments. The SECURE 2.0 Act of 2022 introduced provisions permitting employers to provide matching contributions equivalent to certain student loan payments in retirement plans. Effective for plan years starting after December 31, 2023, these changes impact Internal Revenue Code § 401(k) and § 403(b) plans, governmental Code § 457(b) plans, and SIMPLE IRA plans under Code § 408(p).
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Copyright 2023 Bloomberg Industry Group, Inc. (800-372-1033) Reproduced with permission. SECURE 2.0 Matching Contributions on Student Loan Repayments.