Business and Finance
Companies shy away from IRS 401(k) student loan matching guidelines

The IRS has issued guidance on how firms can use a 401(k) match to match an worker’s contribution to student loan repayment, but some employers have been slow to implement the ruling.
According to Bloomberg Law employers were reluctant to implement IRS guidelines because they’re concerned in regards to the additional complexities resulting from the ruling, regardless that Fidelity Investments, SoFi Technologies and Betterment LLC have already offered to establish student loan matching services.
Employees are also cautious about implementing latest IRS guidance as they watch how the federal government approaches student loan forgiveness.
However, under IRS guidelines, employers can count repayments as a part of an worker’s deferred retirement, which allows employees participating in a 401(k) matching program to save lots of for eventual retirement while paying off student loan debt.
“The problem isn’t student loans; the issue is the cost of education,” Betsy Mayotte, president and founding father of the Student Loan Institute, told Bloomberg Law. “We can apply any variety of band-aids and antibiotics to a student loan to make things easier for borrowers, and we should always proceed to achieve this, but we’re primarily treating the wound, not trying to forestall it. “
As of Sept. 30, Verizon Communications Inc., Chipotle and Abbott Laboratories are amongst the businesses which have opted to benefit from the 401(k) student loan matching program, but concerns remain.
“This guidance is certainly welcome and helpful, but they (employers) want to be sure that additional help is available to the extent that foot defects exist; they can be easily corrected,” Gabe Marinaro, partner at Akerman LLP, told Bloomberg Law.
Barry Salkin, a member of the Wagner Law Group, told the web site that risk-averse employers don’t actually need so as to add too many elements to their existing 401(k) plans. “Things can go wrong when making a plan,” he added, “but I don’t classify it as a high-risk proposition, like offering cryptocurrency.”
As it stands, the important obstacle to widespread adoption of those plans is data collection and verification issues.
“Actually proving that people are paying off their student loans, that they’re not in default, or that they’re not taking advantage of options like forbearance and deferment is something that still needs to be clarified,” financial consultant Raya Reaves, owner of City Girl Savings, told Bloomberg Law.
According to Jantz Hoffman, chairman of the Certified Student Loan Standards Board, data collection has grow to be harder partially due to the STOP Act of 2020, which goals to guard data from fraud targeting individuals with student loan debt.
“The STOP Act data restrictions make it very difficult for plan administrators to manage a plan with a matching component because there is no automated way to receive this data,” Hoffman told Bloomberg Law. “They also won’t want to take on a big cost burden by forcing their employees to register on the portal and send payments through it for verification, because it’s expensive.”
Hoffman also said some employers need to ensure that they are not showing favoritism to a small segment of the workforce.
Business and Finance
Live Nation plans to improve the Atlanta Center with an investment $ 5 billion

Live Nation Entertainment invests in its portfolio of real estate, committing to a plan value $ 5 billion to update the center of Atlanta about the district of the stadium.
The live entertainment company plans to rent a spot for 5,300 places at the Centenary Shipyard in Atlanta. Currently developed next to State Farm Arena and the Mercedes-Benz stadium, a mixed megaproject costs $ 5 billion.
According to Live Nation Will cooperate with sports teams and real estate programmers on the undertaking. The owner of Atlanta Hawks, Tony Ressler, whose team is playing at the arena, and his brother Richard Resssler, the owner of a CIM programming company, have already began introducing the project to realization.
“The fact that Live Nation decided to be in the center of Atlanta is a great matter,” said the co-founder and director of CIM, Shaul Kuba. “We are creating a completely new market in Atlanta, which did not really exist before.”
It focuses on stadiums as a central element. However, the inclusion of Live Nation will ensure readiness and skill to bring artists from the list A in the center of Atlanta. His concert place will turn into one in every of the largest live internal theaters.
While the project guarantees to help the city of a fighting in the city center, economists don’t seem to sell in the neighborhood model at the stadium. Opposes experts say that projects use taxpayers’ funds to reverse expenditure from the community to the latest stadium.
Reflection of the city itself, the center of Atlanta (*5*)it stays variedAccording to black people, they constitute 48% of his population, according to. However, his financial and residential slowdown, escalated during a pandemic, makes him a brand new trial place for stadium districts.
Until now, the centenary has made slow progress due to approval, permits and partnerships of city officials. In the case of only $ 1.3 billion in his budget, he has 162 apartments, brewery and pavements established in the area.
However, for the World Championships in 2026, a team of programmers hopes to complete a 304-unique apartment complex, together with hotels, restaurants and retail trade. In addition, he hopes to construct an addictive bar from cinema-sports, which might fit 1,500 participants.
In addition to investing in the creation of space in the center of Atlanta, Live Nation also plans to add 20 more places to its portfolio until 2026. He hopes to play an vital role in the developing entertainment industry and real estate in sport.
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Business and Finance
The company supported by Aliko Dangot acquires POLLMAN Kenya trips
Africa Travel Investments, concentrated company acquired Pollman’s trips and safari, the oldest organizer of Kenya trips. The agreement emphasizes the numerous trust of Private Equity in the long run of the Kenya tourist sector, a key factor contributing to the national economy.
The Competition Office in Kenya (CAK) previously approved the takeover of Africa Travel Investments in the quantity of 100% of the Pollman’s issued share capital.
Pursuant to the CAK statement: “In relation to the proposed transaction, after merger, the share in the integrated entity’s market will not change, because the goal and the buyer is not in a similar company, and therefore this will not affect the structure and concentration of markets for tour operators in Kenya.”
This takeover occurs after the February investment of Alterra Capital, the Private Equity fund supported each by Danglot, the richest person in Africa, together with chairman Dangot Cement, together with the American billionaire Dave Rubenstein, on the ARP Africa Travel Group, Pollman’s mother company. According to CAK, connection won’t be going to affect A competitive landscape of the concert market in Kenya, including the obligatory focus of adventure and abundant safari.
The regulatory authority also determined that the acquisition won’t be going to adversely affect the employment or competitiveness of smaller firms contained throughout the industry.
CAK said: “The office also stated that the contract does not pose a threat to jobs or competitiveness to small companies, two of the key fears related to the law to Kenya. The parties indicated that they would not cause any losses of employment from the takeover.”
According to the Nigerian tycoon, it’s value $ 23.2 billion. Vast business empire dangot Include Dangote Cement, a serious cement producer on the continent with operations covering 10 African nations. His investments also include the production of fertilizers in Nigeria and the recently operational refinery of Dangot.
The acquisition of Pollman by the entity supported by Danggot signals diversification to the promising tourism market in Kenya.
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Business and Finance
Fenty joins forces with New York Liberty
Fenty Beauty and Fenty Skin Rihanny transferred their WNBA partnership to the subsequent level, concluding a brand recent contract with the prevailing masters, New York Liberty, to point into an official sponsor of the band’s makeup and sweetness sponsor – announcement on May 7.
According to whom Rihanna gave an exclusive interview After the partnership is announced, the offer means the first Fenta trip in business with WNBA. It will likely be They entail the Fenty logo on the good and comfortable -up jackets before playing the team and shooting the sleeves, along with some activations contained throughout the sphereD Moments of discovering the product.
“I have always said that makeup is to have fun, express myself. This should reflect the atmosphere, a moment, personality – whatever you want. I am excited, seeing how amazing women from New York Liberty put the faces of the game and I am proud that they have fenta beauty and fasting skin this season,” said Rihanna.
https://twitter.com/fentyheadlines/status/192012387318405353?s=19
Freedom also probably comprises the suitable mascot in all sports and The most recognizable and dense WNBAEllie The Elephant and Pachyderm coded in a black woman will likely be an infinite a component of activation contained throughout the sphere and other promotions which is able to emphasize cooperation between the team and the Fenty Beauty and Skin Rihanna line.
As Shana Stevenson, director of the Liberty brand, said with reference to the mascot of the Liberty brand, Ellie represents the position of Liberty in Brooklyn and the energy of the district on the extent that does several other mascots.
“The person we know today as Ellie interrogated during this open interrogation, and simply surprised us with his talent and interpretation of Ellie,” Stephenson reminded the shop. “It was so different, so fresh, so harsh. And we said:” This is our person. ” And I also felt a very New York, very Brooklyn in a way we didn’t see before. “
Keia Clarke, General Director of New York Liberty, expressed the band’s emotions from sponsorship with Rihanna’s cosmetic brands. Clarke believes that Fenty and the team divide values paying homage to supporting women and celebrating individuality.
“New York freedom is excited about working with Fenty Beauty-Pioneer, which shares our values of supporting women and celebrating individuality, authenticity and confidence. Adaptation with similarly thinking brands allows us to provide significant connections and experiences that really resonate with our fans. Together we will include strengthening, courage and involvement in creativity,” said Clarke contained contained contained throughout the statement.
On the heels of the MET gala, which some Liberty players, paying homage to Jonquel Jones, Brenna Stewart and Sabrina Ionescu, along with Rihanna herself, Rihanna mentioned her faith that New York is perfectly embodded by the Liberty team In a press release.
“There is no energy and spirit like New York,” Rihanna said in an announcement. “Women from New York Liberty are an example of such beauty, power and strength, so Fenty Beauty and Fenty Skin have become part of their journey this season, he is amazing. We are excited to cooperate with them to get the faces of the game.”
New York Liberty (T) Ellie The Elephan (T) Rihanna (T) Fenty Beauty
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