Business Benefits Group (BBG)’s Post

Attention business owners: Is your company's #401K plan in line with your people-first management style? I can help you offer tax-advantaged compensation to assist your employees in reducing their #studentdebt balances via these two options: 1. Direct loan payment contribution (out-of-plan): The employer makes a principal-only payment directly to the #studentloan provider, reducing the student loan amount. 2. Retirement plan contribution (in-plan) option known as a Qualified Student Loan Match: This allows employers to treat qualified student loan payments as employee deferrals when making annual matching contributions, giving employees flexibility in receiving the full company match. Let's talk if your #retirement plan doesn't allow for either option! #invest #investment #investing #studentloans #investmentplanning #retirementplanning #debt #debtmanagement #business #studentloan #tax Chart sources: Federal Reserve Bank of New York, U.S. Department of Education, and Federal Student Aid an Office of the U.S. Department of Education.

Exciting news for employers and employees alike! With SECURE 2.0, employers can now support employees facing student debt, college savings dilemmas, and domestic abuse challenges through innovative solutions like 401(k) match on student loans and penalty-free withdrawals. With so many new tools provided by this landmark legislation, now is a great time to consider the dynamic needs of the modern workforce and to adapt your benefits to meet them. #EmployeeBenefits #SECURE2

This article outlines a plan for employers to become more attractive to 21st-century workers by helping them pay down college debt and save for retirement. Share this with your HR cousins.

Learn how SECURE 2.0 creates incentives for employers to create better retirement plans for employees, such as the ability to include part-time employees, more flexible borrowing provisions, student loan matching and more. https://bit.ly/3SurXl8.

Learn how SECURE 2.0 creates incentives for employers to create better retirement plans for employees, such as the ability to include part-time employees, more flexible borrowing provisions, student loan matching and more. https://bit.ly/498mh6d.

Learn how SECURE 2.0 creates incentives for employers to create better retirement plans for employees, such as the ability to include part-time employees, more flexible borrowing provisions, student loan matching and more. https://lnkd.in/gGcVVaWP.

Some think that you’ve got to make six figures or more to have a solid retirement. Let’s do a little exercise to challenge that assumption. Both scenarios assume starting at age 30 and retiring at age 65. The only difference is that one only makes $75K per year but has no consumer debt and invests 15% of income into retirement and the other has an annual salary of $200K but has consumer debt to keep up with the lifestyle - credit cards, auto loans, personal loans and student loans and due to the debt is only able to put away 4% towards retirement. Who ends up better in retirement based on these simple assumptions? Scenario 1 Age = 30 Annual Salary = $75,000 Consumer Debt = None Investing towards retirement = 15% Retirement Age = 65 Average Annual ROI = 11% Scenario 2 Age = 30 Annual Salary = $200,000 Consumer Debt = Credit Cards, Auto Loans, Student Loan Debt Investing towards retirement = 4% Retirement Age = 65 Average Annual ROI = 11%

Discover the latest changes in the SECURE Act 2.0 and how they impact your retirement plans. including increasing employee contribution max and the option to match contribution from student loan payments. Our #wealthmanagement advisors are here to get you up to speed.💡💼 #EmployeeBenefits #FinancialAdvisors

Learn how SECURE 2.0 creates incentives for employers to create better retirement plans for employees, such as the ability to include part-time employees, more flexible borrowing provisions, student loan matching and more. https://lnkd.in/ggKdNHyY.

SRP's very own, Jeanne Sutton, CFP®, CPFA, MBA, dives into how employers can help their employees tackle their student debt while saving for retirement. Read the full article here: https://lnkd.in/gEmvJY7w   #studentdebt #employer #srpretirementgeeks