While we’re seeing more and more companies introduce a Student Loan Retirement Match program, we know from conversations with HR leaders and recordkeepers that there are still plenty of misconceptions and questions around this provision of SECURE 2.0. So let’s clear some things up ➡️ Misconception 1: The match goes towards an employee’s student loans. It doesn’t! The employer match goes straight into an employee’s 401(k), helping employees pay down debt while still making the most of a retirement match. Misconception 2: Employees can’t combine student loan matching and retirement matching. Nope! Part of the beauty of this provision is that it allows employees some flexibility with how much they contribute to both their student debt, and to retirement savings – it doesn’t lock them into picking only one option. Misconception 3: It’s hard to implement. That’s where Summer comes in. It doesn’t have to be complicated with the right tools and partners in place. Curious to dive in deeper? Read more on the blog: https://bit.ly/4dBw3iy
Summer
Financial Services
New York, New York 3,419 followers
Student Loan and Education Assistance Benefits, Simplified
About us
Summer is the only end-to-end student loan solution that saves employees an average of $40k and is proven to reduce turnover by 20%. Summer partners with employers to deliver a tailored benefit that empowers employees to save for education, better manage their student loans, find forgiveness options, and lower monthly payments. As a Certified B Corporation, Summer has partnered with leading employers, unions, and governments across the United States to generate over $1.6 billion in savings.
- Website
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http://www.meetsummer.com
External link for Summer
- Industry
- Financial Services
- Company size
- 11-50 employees
- Headquarters
- New York, New York
- Type
- Privately Held
- Specialties
- Personal Financial Management
Locations
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Primary
33 Irving Place
New York, New York 10003, US
Employees at Summer
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Don Weinstein
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Michelle Tran
Founder, Growth and Revenue Leader // Helping FinTechs Accelerate Growth // Top 100 Women in Fintech // Mom
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Monica Pool Knox
Venture Partner I Investor I Strategic Advisor I Chief People Officer I Board Director I Cloud & AI I CNBC Workforce Executive Council I ex-Twitter…
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Josh Tanenbaum
Founder and Managing Partner of Rebalance Capital
Updates
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For the first time in nearly 5 years, 45 million borrowers will face costly penalties and credit score dings for missing student loan payments. Remy Samuels of PLANSPONSOR interviewed Summer CEO Will Sealy to dig into how this will impact retirement savings. His take: with up to 25 million people expected to resume loan payments this month, it won’t be surprising if we see a dip in retirement plan contributions as borrowers divert funds to cover the cost. Read the full article for Will’s insight into potential impact, as well as some key takeaways stemming from the Student Loan Retirement Forum in DC earlier in September! https://lnkd.in/eT6ghwnD
What the End of the Student Loan On-Ramp Period Could Mean for Retirement Savings
plansponsor.com
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Summer was honored to receive the EBN Excellence and Innovation Award at the Benefits at Work conference in San Diego. 🎉 Our SVP of Business Operations, Ritu Tandon, proudly accepted the award on behalf of our Founder and CEO, Will Sealy. More than just an award, this recognition reflects our unwavering mission to help employees take control of their financial future by navigating student debt. We're honored to be leading the way in reshaping financial wellness for the workforce. To date, we’ve helped borrowers save $1.75 billion, and this is just the beginning. Thank you, Employee Benefit News, for acknowledging the impact we’re making!
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What an incredible week at the HR Technology Conference & Exposition, where we connected with HR leaders from across the country! One standout theme? HR leaders have student loans on the top of their list as a benefit program that offers clear, proven ROI and high adoption rates. A few of our favorite moments from the conference: 💡 Our Chief Customer Officer, Bridget Haile, led a session with over 30 HR leaders, showing how Summer’s solutions can help employees save $40,000 in just minutes. 🍽 We hosted our first (but definitely not last!) Women in HR Tech lunch and capped off our days with fantastic events hosted by SemperVirens Venture Capital , ADP Ventures, Greenhouse Software and Guardian Life. 🥤 We loved seeing attendees, including Varun Dalakoti, rocking our new Summer Stanley Cups! ⭕ At our booth, HR leaders participated in student loan trivia, uncovering the full scope of the issue while exploring solutions to better support their employees. 🎟 A big congratulations to Erin Greider, our Yeti cooler raffle winner! #HRTech2024
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Summer reposted this
Founder, Growth and Revenue Leader // Helping FinTechs Accelerate Growth // Top 100 Women in Fintech // Mom
Happening LIVE in 20 mins at HR Tech! Come and test your knowledge of student loans to win prizes! Bridget will present on how to use student loan assistance to keep and fine top talent. Bridget Haile Summer
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✨ What an amazing first day at HR Technology Conference & Exposition ✨ Our booth was buzzing with energy, and we had so many great conversations around student loan debt solutions for the workforce. We also hosted an empowering Women in HR Tech Lunch—thank you to Mary Dodd, Nicole Tucker, Laura Campbell, Amy Schwenck, Jaime (Coy) Frankos, and Kristin Smith who joined and contributed to such thoughtful discussions! The day wrapped up with a fantastic dinner with SemperVirens Venture Capital —huge thank you to Robby Peters, Erin M. Faverty, MA COML, and Don Weinstein for hosting. It was so wonderful to meet folks from Justworks, UKG, Guardian Life, Pinwheel, Carrot Fertility, Origin and more! Don’t forget to attend Summer's Chief Customer Officer Bridget Haile’s tech talk today at 9:40am , where we will be decoding student loan debt for your workforce—you may even win a prize or two! Will Sealy, Michelle Tran, Jemila Stewart (She/Her), David White, Jeff Gold, Bridget Haile and Aanchal Gulati will be at booth #4103 all day—stop by to say hello! #HRTech
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Summer reposted this
📣 Happy #ForgivenessFriday! 📣 Four years ago, we shared Eric's journey as he began his path toward student loan forgiveness. Today, we’re celebrating a full-circle moment—Eric has officially received $230,074 in federal student loan forgiveness! 🙌 We’re proud to partner with AFT to help people like Eric unlock life-changing opportunities. Read about Eric's full journey on the blog: https://lnkd.in/evHiSgH9
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📣 Happy #ForgivenessFriday! 📣 Four years ago, we shared Eric's journey as he began his path toward student loan forgiveness. Today, we’re celebrating a full-circle moment—Eric has officially received $230,074 in federal student loan forgiveness! 🙌 We’re proud to partner with AFT to help people like Eric unlock life-changing opportunities. Read about Eric's full journey on the blog: https://lnkd.in/evHiSgH9
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Next week, Summer is Vegas-bound for the HR Technology Conference & Exposition! ✈️ Join us at booth #4103 to meet our team of experts, including Michelle Tran, Will Sealy, Bridget Haile, Jemila Stewart (She/Her), David White, Jeff Gold, and Aanchal Gulati, and discover how we can transform employee recruiting, retention, and financial wellness. With the U.S. currently facing a significant labor shortage, our solutions can give you a competitive edge in attracting and keeping top talent. In fact, 86% of employees between the ages 22-33 say they would commit to staying with an employer for five years if student loan repayment assistance was offered. 💡 Don’t miss our Tech Talk on Wednesday, where Summer's Chief Customer Officer, Bridget Haile will share how your employees can save $4,000 a year on student loans in less than 10 minutes. There may even be an opportunity to win a prize or two! We can't wait to see you in Vegas! 🌟
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Summer's Chief Innovation Officer, Don Weinstein, spoke with H3 HR Advisors about the role companies are playing in their employees' financial wellness and noted that Summer is a standout for the massive impact our Student Loan Assistance programs are having by generating six-figure savings for employees. Check out the full podcast below!
This week on the At Work in America podcast - we sat down with Don Weinstein to talk about innovations in HR technology and what that means for your organization. - The importance of AI in HR - Challenges and strategies for HR leaders - Innovative companies in the benefits space - Employee-centric solutions Join the conversation today! #HR #AI #Benefits #Innovation https://lnkd.in/gWkRRBye