Employer 401(k) Matches for Student Debt Repayment: Killing Two Birds with One Stone?
研究美国新规允许雇主为偿还学生贷款的员工匹配退休金，发现员工会减少自身缴费、更慢还贷，但整体财富和消费增加，高债务负担者受益最大。
We analyze the potential impact of the recent US reform that permits employers to match retirement plan contributions when employees repay their student loans. Our calibrated lifecycle model measures the impact of this policy on heterogeneous household financial behavior and welfare. We show that, post-reform, workers optimally reduce their own retirement plan contributions in exchange for the employer matches and repay student loans more slowly and smoothly. The reform also boosts financial wealth and annual pre-retirement consumption. Workers with high student debt relative to expected lifetime income gain the most from the reform, reflecting their greater repayment burden.