With the federal freeze on student loan repayments now expired, over 43 million Americans resumed making their monthly payments in October. As inflation and the rising cost of goods also put a squeeze on employees' finances, for many this means having to make tough choices like sacrificing their retirement contributions to make student loan payments.
Fortunately, help is on the way. New provisions in the SECURE 2.0 Act will take effect starting in January 2024 that can alleviate some of the stress employees face when trying to balance their current needs with their future financial security. While it's viewed as mostly beneficial for employees, there are several benefits for employers as well.
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