Encouraging your employees to save for education goals with a 529 plan is a WIN-WIN-WIN.
Increasing 529 plan participation significantly increases college attendance and graduation rates.* Plus, it reduces the burden of student debt and financial stress in the workplace that can lead to lower productivity and higher turnover. Employers can play a key role in strengthening their current and future workforce with one easy step.
Adding The Education Plan to your employee benefits package is an easy, no-cost, hassle-free way for you to support the financial wellbeing of your employees and your company's bottom line. Unlike other benefit programs, The Education Plan requires very little from HR while offering your employees the opportunity to save towards education goals for themselves and/or their loved ones on a regular basis through payroll direct deposit.
Features for employers:
- No cost to employer
- Potential tax benefits for you and your employees
- No fiduciary responsibility
- Easily enhance your benefits package
- Empower your employees and their loved ones to further their education with less debt
- Gives you a competitive edge for recruitment & retention
- Matching contributions optional
Adding The Education Plan as an employee benefit is easy:
- Employees can enroll online.
- To make paycheck contributions, employees would complete the Payroll Direct Deposit form or utilize their self-service benefits portal, if available.
- Contact us using the form on this page to set up an on-site informational workshop or webinar for your employees and invite us to participate in annual benefits events.
- Using the form on this page, get on the employer email list to receive important updates and periodic reminders about the Plan to share with your employees.
*Center for Social Development, 2013, ”Small-Dollar Children’s Savings Accounts, Income, and College Outcomes”