More employers add 401(k) plan match for workers paying student loans

Published On Dec 4, 2024, 3:03 PM

More employers are now offering a 401(k) plan match for workers who are paying off student loans, following the introduction of the Secure 2.0 law, which allows employee loan payments to be treated like 401(k) contributions. Notable adopters include large firms like Kraft, Workday, and Comcast. While only about 5% of employers currently provide this benefit, interest is growing, with some companies planning to implement it by 2025. This initiative aims to assist employees in managing both student debt and retirement savings.