In 2024, many of the SECURE Act 2.0's groundbreaking provisions go into effect, providing employers with the ability to support their employees with new education benefits. Employers now have the ability to match employee student loan repayments as part of their retirement plans, and savers will also have the ability to roll over their 529 savings to a Roth IRA savings account.
According to a recent Financial Health Network/Morgan Stanley study, four in five workers who report high financial stress say that they are distracted by this stress at work. Financial concerns are also the top source of stress for employees, even more than issues at work or their health. More than 40 million Americans carry a collective burden of $1.6 trillion in student loan debt, and they are in need of support. Nearly half of employees surveyed by SHRM consider student loan repayment assistance the most important workplace benefit. However, only 17% of employers offer this benefit to their employees.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
