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Kate_sept2004 | E+ | Getty Images17% of employers offer some kind of student loan aidFew employers offer student loan benefits, which can take many forms. Seventeen percent offer some type of student loan assistance, according to a 2021 survey by the Employee Benefit Research Institute. The most popular workplace programs don't offer direct relief for student loan payments. The expanded tax break for student loan payments is temporary, however. Starting in 2024, employers will also be allowed to pay a 401(k) match to borrowers making student loan payments, a provision enacted by a 2022 law known as Secure 2.0.
Persons: Will Hansen, We're, Derrick Johnson, Johnson, Luis Alvarez, SHRM, We've, Randi Weingarten, " Hansen Organizations: Research, of America, NAACP, Digitalvision, Getty, American Federation of Teachers Locations: Albuquerque , New Mexico, Washington, Orange County , Florida
The U.S. has a voluntary retirement savings system. But most IRA funds aren't contributed directly — they were first saved in a workplace retirement plan and then rolled into an IRA. 1 issue," Will Hansen, chief government affairs officer at the American Retirement Association, a trade group, said of workplace retirement savings. "[However], the retirement system is actually a good system for those who have access," Hansen said. In such cases, it may not be fair to place primary blame on the structure of the U.S. retirement system, Hansen said.
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