Posts in Student Loans.
By: Lyndsey Barnett and Michaela Taylor*
As we have mentioned in previous insights, SECURE 2.0 has provided several opportunities for plan administrators to assist participants in tackling emergency expenses. Two of these provisions updated the administration of hardship withdrawals to plan participants.
Previously, the IRS permitted ...
By: Lyndsey Barnett and Michaela Taylor*
Next up on our updates on SECURE 2.0 is Section 111 which addresses rising student loan debt. According to an article published by the Education Data Initiative last October, student loan debt totals $1.745 trillion. While SECURE 2.0 contains many new changes impacting benefit plans, this provision may ...