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|ASAE Webinar_Student Loan Debt.pdf|
Employers have begun making greater investments in their employees’ overall well-being and recognizing student loan debt as a source of financial stress. According to Student Debt Relief, more than 44 million Americans are managing student loan debt, with an average monthly payment of $351. Employers are in a unique position to help employees pay down their loans while also reaping rewards for the organization, including talent recruitment and retention.
There are many options for organizations to consider, including creative 401(k) plan designs; a benefit that runs alongside the 401(k) plan; payroll integration solutions that help employees stay out of default; and funding specific dollar amounts or matching employees’ loan repayments to varying degrees to help them pay down debt faster.
Experts Alison J. Cohen of Ferenczy Benefits Law Center and Shelly Howard-Horwitz, AIF, CFPA, of Pensionmark will discuss:
- making a case for why your organization should consider a student loan benefit
- guidance and best practices for adding a student loan matching program to your 401(k) plan
- primary considerations when evaluating your benefit options.