Student loan debt in America now totals more than $1.5 trillion and is now the second largest consumer debt in the U.S. after mortgages. How are employees able to juggle making student loan repayments as well as save for retirement? In this issue we look at developments in the retirement plan industry that have the potential to help.
Applying to the IRS for a private letter ruling can provide guidance regarding the interpretation and application of a regulation. We look at the six steps to take when making an application. We also explore creative plan design, such as that offered by DB/DC Combo Plans. These hybrid retirement plans can be tailored to achieve greater contribution goals for business owners and key employees.
Lastly, we update you on the latest ABG news and review important upcoming compliance deadlines. We hope you find this issue informative. As always, your ABG representative is available to answer any questions you may have.
Thomas E. Seitz
Pension Corporation of America
Member of the Alliance Benefit Group, LLC.