AIA Supports New Legislation Assisting Retirement Planning for Architects through Student Loan Payments
WASHINGTON, DC -- The American Institute of Architects (AIA) commends Congress for the year-end passage of Secure Act 2.0 provisions (inclusive of AIA-endorsed H.R. 2917, the Retirement Parity for Student Loans Act), which help emerging professionals save for retirement while paying down student loan debts.
“This legislation helps provide a path to retirement for architects feeling the burden of student loan debt,” said AIA 2023 President Emily Grandstaff-Rice, FAIA. “Beyond the value to current emerging professionals, this legislation lowers one of the many barriers of entry into the profession for underrepresented architect groups.” AIA and American Institute of Architecture Students (AIAS) partnered together to advocate for this legislation in 2019, specifically, the bipartisan Retirement Parity for Student Loans Act, which allows employers to make matching contributions to a 401(k)-retirement plan when their employees make student loan repayments. Recent graduates who cannot afford to save for retirement would no longer have to forego the employer match.