Fred Reish Comments on SECURE 2.0 Student Debt Provision With Bloomberg Law

In “401(k) Law’s Appeal Fades as Workers Face Student Debt Deadlines,” Bloomberg Law turned to benefits and executive compensation partner Fred Reish for his commentary on a provision in the SECURE 2.0 Act that will allow employers to treat student loan repayments like retirement plan deferrals.

Reish explained that the focus on student loans in the passage of SECURE 2.0 led to confusion among some employers that the provision was less about retirement savings than it was tax-free repayment. He also noted that it’s been up to third-party plan service providers such as recordkeepers to help explain to employers that the provision is strictly applicable to 401(k) and 403(b) plan contributions.