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Public Service Enterprise Group Incorporated Employees Should be Aware that the Student Loan Payment Pause was Extended Through January 2022

How Public Service Enterprise Group Incorporated employees can navigate federal student loan repayment: This article provides a framework for Public Service Enterprise Group Incorporated employees to understand the current federal student loan landscape and make the most of available repayment options and employer benefits, suggests Tyson Mavar, a representative from The Retirement Group, a division of Wealth Enhancement Group.

Wesley Boudreaux of The Retirement Group, a division of Wealth Enhancement Group, advises Public Service Enterprise Group Incorporated employees with federal student loans to take stock of their current repayment plan and explore the updated options available now that the pandemic-era payment pause has ended.

In this article, we will cover:

The end of the federal student loan payment pause: A summary of the pandemic-era moratorium and what happened when repayment resumed.

The effects on Public Service Enterprise Group Incorporated employees: How the current repayment environment affects both personal and Parent PLUS Loans.

New employer benefits and available programs: What Public Service Enterprise Group Incorporated employees can take advantage of under current law.

Background: The student loan payment pause has ended.

Federal student loan repayment resumed on September 1, 2023, after more than three years of pandemic-era relief. The COVID-19 payment pause, which began in March 2020 under the CARES Act, was extended multiple times. After the U.S. Supreme Court's June 2023 ruling blocked broad student loan cancellation, the final pause ended and repayment restarted. The Department of Education implemented a one-year on-ramp period through October 2024, during which missed payments did not trigger credit reporting -- but interest continued to accrue. As of late 2024, standard monthly repayment is fully in effect for all Public Service Enterprise Group Incorporated employees with federal student loans.

Public Service Enterprise Group Incorporated employees nearing retirement should be aware that Parent PLUS Loans -- federal loans that parents can take out to help pay for their children's education -- resumed repayment along with all other federal loans in 2023. Income-driven repayment (IDR) options remain available for eligible borrowers. Public Service Enterprise Group Incorporated employees should note, however, that the Saving on a Valuable Education (SAVE) plan -- introduced in 2023 as the most generous IDR option -- was blocked by federal courts in 2024 and is currently in administrative forbearance while legal challenges are resolved. Time spent in SAVE forbearance does not count toward Public Service Loan Forgiveness (PSLF), and borrowers cannot make qualifying PSLF payments while in the plan. Two other IDR plans -- Income-Contingent Repayment (ICR) and Pay As You Earn (PAYE) -- are being phased out and will end in mid-2028. The standard 10-year repayment plan and Income-Based Repayment (IBR) remain fully available.

Does interest accrue during current forbearance periods?

Yes. Unlike the pandemic-era pause, the SAVE administrative forbearance does accrue interest. Public Service Enterprise Group Incorporated employees enrolled in SAVE who are in administrative forbearance may wish to consider voluntary payments to prevent interest buildup.

Do private student loans qualify for income-driven repayment?

No. Public Service Enterprise Group Incorporated employees should remember that private student loans are not eligible for federal IDR plans, PSLF, or federal forbearance protections. Only federal government-held loans -- including Federal Direct Loans, Federal Perkins Loans, and FFEL Program loans held by the Department of Education -- are eligible.

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Public Service Enterprise Group Incorporated employees whose employer offers student loan repayment assistance should be aware of a significant development: the One Big Beautiful Bill Act (OBBBA), signed into law in July 2025, permanently extended the employer benefit allowing companies to contribute up to $5,250 per year toward an employee's student loan repayment on a tax-free basis. This benefit was originally a temporary CARES Act provision. Public Service Enterprise Group Incorporated employees are encouraged to check with their HR department to determine whether this benefit is available and to contact their loan servicer to review their current repayment plan status.

Sources:

U.S. Department of Education. 'Federal Student Loan Payment Restart.' StudentAid.gov, 2023, studentaid.gov/announcements-events/covid-19 .
U.S. Department of Education. 'Repayment Plans.' StudentAid.gov, 2025, studentaid.gov/manage-loans/repayment/plans .
NPR. 'Federal student loans are changing. Here’s what to expect in 2026.' NPR, December 2025, www.npr.org .
U.S. Congress. One Big Beautiful Bill Act. Signed July 2025.
Federal Reserve Bank of New York. 'Household Debt and Credit Report.' Federal Reserve Bank of New York, Q4 2025, www.newyorkfed.org/microeconomics/hhdc .

What type of retirement savings plan does Public Service Enterprise Group Incorporated offer to its employees?

Public Service Enterprise Group Incorporated offers a 401(k) retirement savings plan to its employees.

How can employees of Public Service Enterprise Group Incorporated enroll in the 401(k) plan?

Employees of Public Service Enterprise Group Incorporated can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

Does Public Service Enterprise Group Incorporated provide matching contributions to the 401(k) plan?

Yes, Public Service Enterprise Group Incorporated offers matching contributions to the 401(k) plan, subject to certain eligibility criteria.

What is the maximum contribution limit for the 401(k) plan at Public Service Enterprise Group Incorporated?

The maximum contribution limit for the 401(k) plan at Public Service Enterprise Group Incorporated aligns with the IRS guidelines, which may change annually.

Can employees of Public Service Enterprise Group Incorporated take loans against their 401(k) savings?

Yes, employees of Public Service Enterprise Group Incorporated may have the option to take loans against their 401(k) savings, subject to specific terms and conditions.

What investment options are available in the 401(k) plan at Public Service Enterprise Group Incorporated?

Public Service Enterprise Group Incorporated offers a variety of investment options in its 401(k) plan, including mutual funds, stocks, and bonds.

How often can employees change their contribution amounts to the 401(k) plan at Public Service Enterprise Group Incorporated?

Employees of Public Service Enterprise Group Incorporated can change their contribution amounts to the 401(k) plan at designated times throughout the year, typically during open enrollment periods.

Is there a vesting schedule for employer contributions in the 401(k) plan at Public Service Enterprise Group Incorporated?

Yes, there is a vesting schedule for employer contributions in the 401(k) plan at Public Service Enterprise Group Incorporated, which determines when employees fully own the employer's contributions.

What happens to the 401(k) savings if an employee leaves Public Service Enterprise Group Incorporated?

If an employee leaves Public Service Enterprise Group Incorporated, they can roll over their 401(k) savings to another retirement account, cash out, or leave the funds in the plan if eligible.

Are there any fees associated with the 401(k) plan at Public Service Enterprise Group Incorporated?

Yes, there may be fees associated with the 401(k) plan at Public Service Enterprise Group Incorporated, which can include administrative fees and investment management fees.