Washington, D.C., August 19, 2024 – Today, The ERISA Industry Committee (ERIC) issued the following statement regarding today’s release by the Internal Revenue Service (IRS) of Notice 2024-63, implementing Section 110 of the SECURE 2.0 Act. The statement is attributable to Andy Banducci, Senior Vice President for Retirement and Compensation Policy.
“ERIC’s member companies are committed to the financial wellbeing of their employees, including those with outstanding student loans. That is why we lobbied Congress to enact a tax law change allowing employers to make retirement plan matching contributions on account of workers’ qualified student loan payments. We applaud the IRS for issuing interim guidance implementing this change and look forward to providing technical comments to IRS in the coming weeks.”