Student Loan Payments Would Get 401(k) Match in Democrat’s Plan
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Student loan payments would be entitled to earn “matching” 401k retirement contributions from employers under a bill introduced Thursday by Senate Finance Chairman Ron Wyden.
The proposal would allow Americans to build retirement savings while repaying their student debt even if they cannot afford to make their own contributions to a 401k plan. Employers could offer the benefit voluntarily, and it would only apply to higher-education expenses.