IRS Guidance Could Help Workers With Student Debt: Group
Law360 (August 29, 2018, 7:13 PM EDT) -- The Internal Revenue Service could clear the way for more debt-ridden workers to save for retirement by clarifying that companies won’t lose tax benefits if they make 401(k) contributions when workers make student loan payments, a trade group that advocates for corporations’ benefit interests said Tuesday.
The ERISA Industry Committee thanked the IRS for issuing a private letter ruling assuring employers that this 401(k)-contribution method is legal, but it urged the agency to go one step further.
“While we believe that current law allows employers to make contributions to their retirement plans on behalf of workers who repay student loan debt,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!