Notice 2024-63: Interim guidance on employer matching contributions made to retirement plans related to employee student loan payments

Type
:
Opportunity
Tax Area
:
Others
Status
:
Guidance
Qualification
:
Various
Implemented date
:
NA
Country
:
United States
Date added
1 Aug
,
2024
Docxster’s Summary

The IRS has issued Notice 2024-63, which allows employers to make matching contributions to retirement plans based on employee student loan payments. This new guidance aims to help employees with student loan debt save for retirement while also paying off their loans. Employers who choose to implement this option must follow certain requirements outlined in the notice.

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Source :
KPMG
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