ADP Teams Up with Summer to Support SECURE 2.0 Student Loan Retirement Match
NEW YORK, March 28, 2024 /PRNewswire-PRWeb/ -- Today, Summer and ADP announced an integration to support student loan benefits offerings. This relationship will make it possible for all of ADP's retirement plan clients to offer Student Loan Retirement Matching and additional student debt tools through Summer's platform.
- NEW YORK, March 28, 2024 /PRNewswire-PRWeb/ -- Today, Summer and ADP announced an integration to support student loan benefits offerings.
- This relationship will make it possible for all of ADP's retirement plan clients to offer Student Loan Retirement Matching and additional student debt tools through Summer's platform.
- Even when student loan payments were paused, many student loan debt holders reported they delayed saving for retirement due to that debt, and with payments now resumed, employees may feel increased pressure to prioritize paying down debt over saving for retirement.
- The SECURE 2.0 Act helps alleviate this savings challenge by allowing employers to treat student loan payments as qualifying contributions toward retirement plans.