and struggling to save for retirement, there's some good news. Thanks to a new provision under the SECURE 2.0 Act, your employer may now help you save for the future-even if you're focused on paying off student loans.

This new option, called a 401(k) student loan match, allows employers to match your student loan payments with contributions to your 401(k). That means you could build your retirement savings without having to contribute to your 401(k) yourself. Let's break down how it works and why it could be a game-changer.

Traditionally, employer contributions to a 401(k) are based on what an employee puts into their own retirement account. But under this new rule, employers can instead match the amount you pay toward student loans and deposit that match into your 401(k). In short, as long as you're paying off your student debt, you're also building retirement savings.

Here's how it typically works:

One key point: These matches aren't just limited to 401(k) plans. The benefit also applies to 403(b), governmental 457(b), and SIMPLE IRA plans.

For employees, this new program offers multiple advantages:

If your employer offers a 401(k) student loan match, signing up is a no-brainer-especially if you're already making student loan payments. It's essentially free money going toward your retirement savings. If your employer doesn't offer it yet, it may be worth discussing with HR to see if they'll add it to the benefits package.

The bottom line? This new program is a win-win for workers trying to balance debt repayment and long-term savings. If you qualify, take advantage of it-it could make a huge difference in your financial future!