Senator Ron Wyden introduces student loan act

Under the Retirement Parity for Student Loans Act, recent graduates who can't afford to save above their student loan repayments would no longer have to give up their employer match.

Posted: Dec 20, 2018 7:14 AM
Updated: Dec 20, 2018 10:15 AM

WASHINGTON, D.C. -- Oregon Senator Ron Wyden has introduced a bill to give college graduates the ability to save for retirement, while still having money to pay off student loans. 

Under the Retirement Parity for Student Loans Act, recent graduates who can't afford to save above their student loan repayments would no longer have to give up their employer match.

“Millions of new college grads are buried under tens of thousands of dollars in student loan debt. Paying down student loans shouldn’t mean employees lose out on the opportunity to save for the future,” Wyden said.

The Retirement Parity for Student Loans Act would allow employers to make matching contributions into a 401(k) retirement plan, while their employees continue to pay off student loans.

The Senate Finance Committee, of which Wyden is a member, decided to introduce the act to prepare for next year.

It’s expected that broader conversations on how to improve retirement policies will be debated during the 116th Congress.

Oregon Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 13081

Reported Deaths: 247
CountyConfirmedDeaths
Multnomah309573
Washington199421
Marion197556
Umatilla11418
Clackamas105129
Malheur4493
Union3762
Lincoln3627
Lane3243
Deschutes2881
Yamhill2179
Jackson1960
Linn18610
Polk18412
Jefferson1710
Morrow1651
Klamath1411
Wasco1212
Benton1176
Hood River1090
Douglas701
Josephine651
Columbia590
Coos580
Clatsop560
Lake240
Crook201
Tillamook200
Wallowa150
Baker130
Curry90
Sherman50
Gilliam20
Harney20
Grant10
Unassigned00
Wheeler00
Eugene
Few Clouds
60° wxIcon
Hi: 89° Lo: 58°
Feels Like: 60°
Corvallis
Clear
60° wxIcon
Hi: 88° Lo: 57°
Feels Like: 60°
Roseburg
Clear
70° wxIcon
Hi: 92° Lo: 60°
Feels Like: 70°
North Bend
Overcast
54° wxIcon
Hi: 65° Lo: 55°
Feels Like: 54°
KEZI Radar
KEZI Temperatures
KEZI Planner

LATEST FORECAST

Community Events