Treasury Pulling Back From Student Loan Retirement Plan Rules

The Biden administration has pulled back from working on new rules that would allow employers’ retirement plans to make contributions to retirement savings plans based on their workers’ student loan payments.

“That’s sort of fallen off the immediate ‘we’re-working-hard category,’” William Evans, an attorney adviser in the Department of the Treasury’s Office of Benefits Tax Counsel, said Tuesday at the American Bar Association’s 2021 Fall Tax Meeting. Much work had to be done to implement the provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE), taking up time and resources, he said.

The SECURE Act ...