by Joe Kwasniewski | Dec 26, 2024 | Benefits, Differentiation, Employee Benefits, Employee Engagement, FAQ, Features, Human Resources, Insights, Plan Design, Program Management, Student Loan Assistance, Student Loan Repayment
When discussing the set-up of a Student Loan Assistance program with clients, there’s always a few recommendations we have for employers on what should be top of mind. In this post, we’ll outline these key elements in three rules of thumb. In our...
by Joe Kwasniewski | Dec 5, 2024 | Benefits, Decisions, FAQ, Features, Human Capital, Human Resources, Insights, Plan Design, Program Management, Student Loan Assistance, Student Loan Repayment
During discussions with potential clients, one question that comes up from time to time is based on employee student loan payments and payroll. Wondering if they can/should process employee payments through their payroll system. This post helps answer this question...
by Joe Kwasniewski | Nov 26, 2024 | Benefits, Decisions, Differentiation, Employee Benefits, FAQ, Features, Human Resources, Insights, Plan Design, Program Management, Student Loan Assistance, Student Loan Repayment
When meeting with potential clients and partners, one of the common questions we get on program best practices surrounds spouse and family member participation. To answer this question, no, an employee must be listed as the primary borrower on the student loan in...
by Joe Kwasniewski | Nov 12, 2024 | Benefits, Decisions, Differentiation, Employee Benefits, Financial Wellbeing, Human Capital, Human Resources, Insights, Plan Design, Program Management, Student Loan Assistance, Student Loan Debt, Student Loan Repayment
It has now been close to a year since the Secure Act 2.0 was approved and options were added for employers to tie their retirement plans to other programs like Student Loan Assistance. In our experience, this hasn’t been taken up as a common approach for employers....
by Joe Kwasniewski | Oct 11, 2024 | Benefits, Decisions, Differentiation, Employee Benefits, FAQ, Features, Human Resources, Insights, Plan Design, Program Management, Student Loan Assistance, Student Loan Repayment, Tax-free
In a recent statement from the IRS, an unnamed employer received access through a private letter ruling to defer 401k matching dollars to student loans through a Section 127 plan tax-free. Similar to the private letter ruling Abbott Labs received in 2018 to count...
by Joe Kwasniewski | Oct 11, 2024 | Benefits, Decisions, Differentiation, Employee Benefits, Financial Wellbeing, Human Resources, Plan Design, Program Management, Student Loan Assistance, Student Loan Repayment, Tax-free
First through the CARES Act in 2020, then the Consolidated Appropriations Act of 2021, and now through an in progress bipartisan bill in 2024. Tax-free Student Loan Assistance is once again making a statement to remain an option for employers looking to stand out in...
