Student loan payments would be entitled to earn “matching” 401k retirement contributions from employers under a bill introduced Thursday by Senate Finance Chairman Ron Wyden.
The proposal would allow Americans to build retirement savings while repaying their student debt even if they cannot afford to make their own contributions to a 401(k) plan. Employers could offer the benefit voluntarily, and it would only apply to higher-education expenses.
“While I support student debt forgiveness, it’s important to put every option on the table to relieve this burden for millions of Americans,” Wyden said in a statement. His bill has four Senate Democrat cosponsors.
Last year, the U.S. froze payments and interest for all federal student loans in response to the coronavirus pandemic. Those protections are expected to remain in place at least through the end of September.
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
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A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
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Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
