The Internal Revenue Service and the Department of the Treasury are requesting comments on this new SECURE 2.0 provision, which takes effect in 2027, that will provide low-income employees with an annual $1,000 match.
The IRS notice instructs employers planning to provide matching retirement contributions to employees making student loan payments, aligning with the new SECURE 2.0 provision.
Helping employees manage their health isn't always straightforward, but benefits like an FSA can go a long way to giving them the coverage and peace of mind they need.
The new guidance follows a new provision in SECURE 2.0, allowing employees to withdraw $1,000 from their retirement accounts for medical care or "any other necessary emergency personal expenses," according to the IRS.