Mid-sized 401(k) provider Betterment LLC will launch the nation’s first commercial product tying qualified student loan repayments with employer retirement plan matches, just three weeks after the congressional provision allowing that option took effect.
The recordkeeping platform hopes to market the product to employers wanting to help their younger workers get a head start on savings by treating the student loan payoffs as retirement plan contributions.
“We know that student debt can be a major impediment to saving for retirement,” said Betterment CEO Sarah Levy.
Betterment’s decision to roll out a student loan matching product bucks an industry trend ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.