As part of the anticipated Secure Act 2.0 employee benefits addition, Match is our newest, tax-advantaged student loan benefits product. Employees no longer need to choose between making contributions to their retirement plans or paying down their student loans. When Vault Match is offered to employees, employers can reward timely student loan payments by making a matching contribution to an employee's established retirement plan.
Based on the Abbott Labs Private Letter Ruling (Abbott PLR) and Secure Act 2.0, employers have chosen to reward employees who make their student loan payments by contributing an employer match into eligible employee 401(k) and retirement accounts.
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Vault employers have received tax advantages and increased employee tenure by up to 55%.
