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US HR6276

Retirement Parity for Student Loans Act


summary

Introduced
03/13/2020
In Committee
03/13/2020
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To amend the Internal Revenue Code of 1986 to permit treatment of student loan payments as elective deferrals for purposes of employer matching contributions, and for other purposes. This bill allows certain employer-sponsored retirement plans to make matching contributions for an employee's student loan payments as if the loan payments were salary reduction contributions to the retirement plan.

AI Summary

This bill, the Retirement Parity for Student Loans Act, allows certain employer-sponsored retirement plans to make matching contributions for an employee's student loan payments as if the loan payments were salary reduction contributions to the retirement plan. The bill also provides guidance on the treatment of these student loan payment matching contributions for the purposes of nondiscrimination rules and plan contribution requirements. Additionally, the bill directs the Secretary of the Treasury to issue regulations to facilitate the implementation of these provisions.

Committee Categories

Budget and Finance

Sponsors (10)

Last Action

Referred to the House Committee on Ways and Means. (on 03/13/2020)

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