Student loan debt: The impact to employees & employers

HR{preneur}® by ADP®

The recent resumption of student loan payments for millions of workers is impacting employees. Are you aware of how employers can help, reducing stress and turnover in the workplace? We’ll explore how employers can provide support for employees during this challenging time. Listen in as we discuss:

• [0:50] The extent of student loan debt & who is most impacted
• [1:42] The impact on employees, turnover & stress
• [4:45] The cost to employers & what you can do
• [6:28] Tax-free student loan repayment under the CARES Act
• [8:36] 529 plans & how they can help
• [10:05] How the SECURE 2.0 Act can help starting in 2024

Copyright © 2023 ADP, Inc. All rights reserved. This content may not be distributed, reproduced, modified, sold or used without the written permission of ADP. The information is provided "as is" without any expressed or implied warranty, is based on generally accepted HR practices and is advisory in nature. This content is provided with the understanding that neither the presenters nor the writers are rendering legal advice or other professional services. Employers are encouraged to consult with legal counsel for advice regarding their organization's compliance with applicable laws. This material is current as of the date of this episode (November 2023).