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Student Loan Repayment Tax Break Tops Benefits Adviser Wish List

Jan. 12, 2021, 10:45 AM

Expanding retirement tax breaks to work-sponsored student loan repayment programs is what benefits advisers say they want to see most from the new Congress.

Allowing companies to deduct retirement matching contributions they make for employees focused on paying down tuition bills is seen as critical to attracting and retaining staff—particularly those still digging out from college debt. IRS officials have said clearing up confusion about how the tax-free benefits would work and who is eligible to receive them is a priority, but they have yet to deliver.

“Treasury and the IRS have made clear that legislation is needed to solve ...

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