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White House’s Response to Surging Gas Prices Sparks Nationwide Outrage Among Americans
Story by Sally Reed• 23h
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LOL...online comments on an obscure conservative website presented in a slide show?White House’s Response to Surging Gas Prices Sparks Nationwide Outrage Among Americans
Story by Sally Reed
• 23h
Yeah. Out of the kindness of his heart, right? Get real.That's right, when President Biden does something good for regular folks, I like that.
Terrible, I know....
So apparently you're thinking President Biden didn't really want to do this?Yeah. Out of the kindness of his heart, right? Get real.
I don't even think he knows where he's at most of the time.So apparently you're thinking President Biden didn't really want to do this?
Again, thanks for that totally non-partisan take.
I can just see you at the gate...I don't even think he knows where he's at most of the time.
I don't fly.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!
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).
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.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
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.