Private Letter Ruling Adds Unnecessary Complexity to Student Loan Assistance

Private Letter Ruling Adds Unnecessary Complexity to Student Loan Assistance

by | 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...
Tax-Free Student Loan Repayment, Here to Stay

Tax-Free Student Loan Repayment, Here to Stay

by | 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...
Four things employers shared when they switched their administrator, and hired Peanut Butter

Four things employers shared when they switched their administrator, and hired Peanut Butter

by | May 13, 2024 | Benefits, Differentiation, Employee Benefits, Program Management, Recruiting, Retaining Talent, Student Loan Assistance, Student Loan Repayment, Tax-free, Winning Together

Selecting the right vendor for any benefit is a crucial component of a program’s success. During our time supporting group transitions from other Student Loan Assistance administrators, we’ve learned four key reasons on why employers are choosing to make the switch....
Your company doesn’t need to offer 529 college savings plans, and if you must, get the program free from your state

Your company doesn’t need to offer 529 college savings plans, and if you must, get the program free from your state

by | May 13, 2024 | 529 Savings Plan, Benefits, Decisions, Differentiation, Employee Benefits, Employee Engagement, Recruiting, Retaining Talent, Student Loan Assistance, Student Loan Repayment, Tax-free, Workplace diversity

Employers have continued to explore a wide array of benefits, especially as the war for top talent has continued to become increasingly more difficult. 529 college savings plans are one option employers consider for a few reasons. For one, to create a commonplace for...
[CNN Business] Employers could offer you tax-free help with your student loan payments. Most are not

[CNN Business] Employers could offer you tax-free help with your student loan payments. Most are not

by | Sep 1, 2023 | Benefits, Differentiation, Employee Benefits, Financial Wellbeing, Finding Talent, Human Resources, Recruiting, Retaining Talent, Student Loan Assistance, Student Loan Repayment, Tax-free

In a recent post from CNN Business, tax-free student loan assistance was highlighted as a high impact solution for combatting the return of federal student loan payments for borrowers nationwide in October. The article eludes to the fact that only 8% of employers...