Featured Jobs
|
DWC (The 401k Experts)
|
|
Senior ERISA Compliance Analyst Employee Fiduciary LLC
|
|
The Pension Design Group
|
|
ERISA Services Inc.
|
|
401k Generation
|
|
PPS Pension Services
|
|
Senior 401k Plan Administrator FMI Retirement Services
|
|
3(16) Plan Customer Liaison, Enrollments Compass
|
|
Employee Fiduciary LLC
|
|
Retirement Plan Sales Consultant Leading Retirement Solutions
|
|
Benesch Friedlander Coplan & Aronoff
|
|
Compass
|
|
LucidHealth
|
|
Senior Retirement Plan Administrator Daybright Financial
|
|
Hilldrup.com
|
Free Publications
|
|
Text of IRS PLR 201833012 Permitting 401(k) Employer Nonelective Contributions Conditioned on Student Loan Repayments (PDF)
Internal Revenue Service [IRS] 
[Official Guidance] Aug. 17, 2018
"Taxpayer would make an employer nonelective contribution on behalf of an employee conditioned on that employee making student loan repayments ('SLR nonelective contribution').... If an employee participates in the program, the employee would still be eligible to make elective contributions to the plan but would not be eligible to receive regular matching contributions with respect to those elective contributions while the employee participates in the program.... [The] proposal to amend the Plan to provide SLR nonelective contributions under the program will not violate the 'contingent benefit' prohibition of section 401(k)(4)(A) and section 1.401(k)-1(e)(6). This ruling is based on the assumption that Taxpayer will not extend any student loans to employees that will be eligible for the program." [Issued May 22, 2018; released Aug. 17, 2018.]
|
| Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
| An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |