April 2025
US Reward Newsletter
|
For Your Wealth
|
Did you know that student debt and retirement security are inextricably linked? A quarter of eligible-but-not-enrolled US workers cite student loan repayment as the main reason they don’t participate in their employer’s retirement plan, and even those who do participate save far less than their college debt–free peers. That’s why we’re thrilled to introduce a new benefit designed to help you tackle student debt while growing your future savings.
|
Empower | Exciting New Benefit: 401(k) Matching for Student Loan Payments
|
Starting in May 2025, employees who aren’t receiving the full Pearson 401(k) match because they contribute less than 8% to the plan can now qualify for matching contributions—just by making student loan payments!
|
How it Works
|
Through the Empower Student Debt Solution, powered by Candidly, Pearson will match your qualified student loan payments with contributions to your Pearson 401(k) Plan—helping you build wealth while paying down debt. |
- Eligibility: If you have outstanding student loan debt and aren’t contributing enough to get the full company match, this benefit is for you
- Matching Contributions: Pearson will match the first 3% of your contributions at 100% and the next 5% at 50%—up to 5.5% total match when you save 8% of your earnings. You can reach the total match through direct contributions, qualified student loan payments, or a combination of both!
- Loan Types Covered: This includes payments on federal and private student loans, Parent PLUS loans, and even loans where you are a cosigner for a spouse or dependent
|
Why This Matters
|
We know balancing student loans and saving for retirement can be tough. This offering ensures you don’t have to choose between paying off debt and securing your financial future—you can do both! It’s just another way Pearson is evolving its benefits to meet your needs. |
How to Enroll
|
Watch for an email from Empower and Candidly in May with enrollment details. Register your student loan(s) by the deadline at the end of the plan year, and any payments made in 2025 will be considered for the match! |
Empower | 401(k) New Hire Education Series
|
Want to learn all the features of the 401(k)? Register for one of the New Hire webinars to sharpen your understanding of the Plan and maximize your savings potential. These webinars are held quarterly: May 21, August 20, and November 19.
|
