Student Debt Retirement Savings Match Program Overview
It can be hard to save for retirement and make your student loan payments at the same time. News Corp’s Student Loan Matching program makes it so you won’t have to choose. Eligible employees can enroll in the Student Debt Retirement Savings Match Program, which offers the opportunity to earn the full company match of 3.5% in your News Corp 401(k) Savings Plan just by making your monthly student debt payments.
This program offers:
- A boost in your retirement savings from News Corp
- A chance to handle your debt without sacrificing your future
- A way to max out your match while paying student loans
How it works
When you enroll, you’ll provide information about your student loan accounts. News Corp will treat your monthly student loan payments as if they’re contributions to the 401(k) plan- making those loan payments eligible for the company match.. After the end of the plan year, News Corp will provide a match that goes into your News Corp 401(k) account.
Common questions
What kind of student loans are eligible?
To qualify, federal or private student loans must be taken out in your name from a US-based loan service provider and used to pay for your—or someone else’s—undergraduate or graduate higher education.
Will I receive this benefit in addition to my current employer match?
That depends. If you’re unable to contribute enough to meet your full match, the benefit can help you reach your full match potential. But, if you already contribute enough to meet your full employer match, you can’t earn any more than that.
Watch this brief video to learn more. Eligible employees will receive an email in early October with additional details and a link to enroll via netbenefits.