S 1443
Retirement Parity for Student Loans Act
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Retirement Parity for Student Loans Act, aims to allow employers to treat student loan payments as if they were elective deferrals when calculating matching contributions for retirement plans. Specifically, it amends the Internal Revenue Code to permit employers to match contributions made towards qualified student loans, provided certain conditions are met, such as matching rates aligning with elective deferrals and eligibility requirements. The bill also extends these provisions to SIMPLE, 403(b), and 457(b) plans, offering broader access to this benefit.
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Primary sponsor
Cosponsors
Benjamin L. Cardin
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