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President Biden's Productive Week

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Riven said:
I don't even think he knows where he's at most of the time.
Click to expand...
I can just see you at the gate...

Airline worker: Mr. Riven, I'm sorry but your flight has been cancelled. Fortunately, due to new federal policy you're entitled to a full refund.

Riven complains, grouses, yells about how the policy is nothing but politics.

Airline worker: Do you still want the refund?

Riven: Yeah, but I don't have to like it!
 
Uncle J said:
I can just see you at the gate...

Airline worker: Mr. Riven, I'm sorry but your flight has been cancelled. Fortunately, due to new federal policy you're entitled to a full refund.

Riven complains, grouses, yells about how the policy is nothing but politics.

Airline worker: Do you still want the refund?

Riven: Yeah, but I don't have to like it!
Click to expand...
I don't fly.
 
Im was looking at flights and a standard fair for me to travel is non refundable, i can pay a bit more for insurance if i want a refund included in the insirance policy that covers a few things or i can purchase an upgraded fair that includes a refunds.

If they were forced to gice refunds then i guess the standard fair would just increase and people will complain they even more broke. Forced to gives refunds could possibly just raise prices.
 
Its just risks in life. Purchase a ticket for a outside game or event and the weather is bad or its cancelled thats just bad luck. Unless there is a refund policy.
 
How to Get a 401(k) Match for Your Student Loan Payments
Rule changes mean paying down your student loans could soon help boost your retirement account

Thanks to a provision in the Secure 2.0 Act, legislation aimed at improving retirement benefits nationwide, in 2024 employers will be able to start counting student loan payments as qualifying contributions toward retirement matching programs.

That means if your employer offers to match your 401(k) contributions, you could get that matched money without ever depositing funds in your retirement account. Instead, your monthly student loan payments would count as your “contribution.”

The benefit could be especially significant for recent graduates, who often have moderate incomes ($58,000 to start, on average) and high levels of debt (an average of $33,000 for federal borrowers aged 25 to 35).
 
Im just wondering if prices will increase now thst everyone has been upgraded from a standard fair that included no refund to now including a refund.

Thats usuallywhat hapoens when government interferes with private or corporate. The people might get a benefit but they will pay for it. Nothing is free.
 
Uncle J said:
How to Get a 401(k) Match for Your Student Loan Payments
Rule changes mean paying down your student loans could soon help boost your retirement account

Thanks to a provision in the Secure 2.0 Act, legislation aimed at improving retirement benefits nationwide, in 2024 employers will be able to start counting student loan payments as qualifying contributions toward retirement matching programs.

That means if your employer offers to match your 401(k) contributions, you could get that matched money without ever depositing funds in your retirement account. Instead, your monthly student loan payments would count as your “contribution.”

The benefit could be especially significant for recent graduates, who often have moderate incomes ($58,000 to start, on average) and high levels of debt (an average of $33,000 for federal borrowers aged 25 to 35).
Click to expand...

So your saying corrext me if im wrong, if you have a student loan the employer contributes into a retirement fund and the money owed to others?. So basically its just transfering the student loan to a retirement fund?.

So the employer and also money that is owed to someone else is paying for someones retirement fund while that person does not contribute anything themselves?.
 
Corn Pop said:
So your saying corrext me if im wrong, if you have a student loan the employer contributes into a retirement fund and the money owed to others?. So basically its just transfering the student loan to a retirement fund?.

So the employer and also money that is owed to someone else is paying for someones retirement fund while that person does not contribute anything themselves?. If you get a job where the employer will match up to 5% of your contributions to your 401k
Click to expand...
Sometimes a recent college grad will get a job where the employer offers to match up to 5% of the employees contributions to their 401k. So if you contribute 5% of your salary to your 401k, the company will match that, effectively doubling that retirement account contributions.

The problem is, a lot of people can't afford to set aside 5% of their salary for their 401k while also paying off their student loans, and since the loan payments are mandatory and 401k contributions are optional, they forego saving for retirement so they can make the loan payments.

Under President Biden's program, your (federal) student loan payments now count as 401k contributions. So if you spend 5% of your salary on student loan payments, your employer will consider that to be the same as 401k contributions and they will match that amount and put it into your 401k. IOW, your 401k will grow even though you're not actually putting money into it (because you're paying your student loans instead).

It's a great idea that really helps workers.
 
Uncle J said:
Sometimes a recent college grad will get a job where the employer offers to match up to 5% of the employees contributions to their 401k. So if you contribute 5% of your salary to your 401k, the company will match that, effectively doubling that retirement account contributions.

The problem is, a lot of people can't afford to set aside 5% of their salary for their 401k while also paying off their student loans, and since the loan payments are mandatory and 401k contributions are optional, they forego saving for retirement so they can make the loan payments.

Under President Biden's program, your (federal) student loan payments now count as 401k contributions. So if you spend 5% of your salary on student loan payments, your employer will consider that to be the same as 401k contributions and they will match that amount and put it into your 401k. IOW, your 401k will grow even though you're not actually putting money into it (because you're paying your student loans instead).

It's a great idea that really helps workers.
Click to expand...

Thats similar like we have. Every employer has to match about 11% of an employees before tax income into there retirement fund.
As for any other contribution i think thats just voluntry. Its just employer pays X amount into fund.
 
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