money and mortarboard Last week,the IRS green-lighted a new benefit offering from AbbotLaboratories that allows participants in the company's 401(k) planto earn the employer match of 5 percent when they defer 2 percentof salary to service student loan debt. (Photo:Shutterstock)

A trade organization that lobbies on behalf of large plansponsors of defined contribution plans is urging the IRS to extend a recent private letter ruling toall qualified plans.

Last week, the IRS greenlighted a new benefit offering fromAbbot Laboratories that allows participants in the company's401(k) plan to earn the employer match of 5percent when they defer 2 percent of salary to service student loan debt.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.