<br><div><aside class="gnt_em gnt_em__fp gnt_em_vp__tp gnt_em__el" aria-label="Video"/><ul class="gnt_ar_sh"><li class="gnt_ar_sh_li">Many Americans feel they have to choose between paying off student loans and saving for retirement.</li><li class="gnt_ar_sh_li">SECURE Act 2.0 would allow companies to add money to 401(k) plans for workers as they pay off loans.</li><li class="gnt_ar_sh_li">But Congress needs to pass the bipartisan legislation by year end or start over.</li></ul><p class="gnt_ar_b_p">Americans saddled with <a target="_blank" href="/story/news/politics/2022/11/22/onpolitics-biden-extends-student-loan-payment-pause/10751692002/" rel="noopener" data-t-l=":b|e|inline click|${u}" class="gnt_ar_b_a">student debt</a> who have trouble saving for retirement could get a major boost, but it’s up to Congress to do its job – and quickly. </p><p class="gnt_ar_b_p">Congress has until year-end to pass the SECURE Act 2.0, a package of proposed retirement changes to help Americans save more for retirement. Tucked into the broad package is a measure<strong/> that would allow employers to count employees’ student loan payments toward their retirement match, effectively increasing retirement contributions for those employees. Currently, companies can only <a target="_blank" href="/story/money/personalfinance/2022/11/15/401-k-employer-match-contribute-limit/8296286001/" rel="noopener" data-t-l=":b|e|inline click|${u}" class="gnt_ar_b_a">match employee contributions</a>. </p><p class="gnt_ar_b_p">Student loans have become a flashpoint, with the Biden administration saying it wants to <a target="_blank" href="/story/news/politics/2022/11/17/biden-asks-federal-appeals-court-intervene-student-debt-program/10721580002/" rel="noopener" data-t-l=":b|e|inline click|${u}" class="gnt_ar_b_a">forgive as much as $20,000 in student debt</a> for qualified individuals to give them a chance to, among other things, save for retirement. Graduates with student loans accumulate 50% less retirement wealth by age 30, according to a 2018 study by the Center for Retirement Research (CRC) at Boston College. </p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p">“Interestingly, graduates’ retirement plan assets are not sensitive to the size of their student loans, suggesting that the simple presence of a loan looms large in their financial decision-making,” CRC said. </p><h2 class="gnt_ar_b_h2">What is SECURE Act 2.0? </h2><p class="gnt_ar_b_p">Earlier...</p></div> <style> .wrapper { text-align: center; } </style> <div class="wrapper"> <a class="button" href ="https://news.google.com/__i/rss/rd/articles/CBMidWh0dHBzOi8vd3d3LnVzYXRvZGF5LmNvbS9zdG9yeS9tb25leS9wZXJzb25hbGZpbmFuY2UvMjAyMi8xMi8wMS9wYXktc3R1ZGVudC1kZWJ0LWFuZC1zYXZlLWZvci1yZXRpcmVtZW50LzEwODAwMDU5MDAyL9IBAA?oc=5">Read more <span>➤</span></a> </div>
