Give Your Employees The Benefit Of College Savings

Now you can:

  • Make a difference in a child's future
  • Make your benefits more competitive
  • Do both without spending money on new systems or burdening your HR/Payroll departments

Expand your benefits package at no extra cost

As an employer, you want to offer a competitive suite of benefits while keeping administrative costs at a minimum. One benefit that can accomplish both is a payroll direct deposit program for the CollegeAdvantage Direct 529 Savings Plan!

When you offer the CollegeAdvantage Direct 529 Savings Plan as a benefit, you can give your employees the opportunity to help their children, grandchildren, or even themselves have a better future. Someday, those children might even grow up to be employees in your company.

Payroll direct deposit for college savings

For as little as $25 per pay period, your employees can save for their children's and grandchildren's future education. They can even save for their own re-training and career development. Best of all, you can offer the CollegeAdvantage Direct 529 Plan through payroll direct deposit at no cost.

No extra costs or administrative burden

We know that corporate HR and Payroll departments have overflowing workloads. That's why we've made the CollegeAdvantage Direct 529 Savings Plan payroll deduction benefit simple to administer. An employee with a CollegeAdvantage Direct Plan simply signs up for payroll direct deposit within their account in the CollegeAdvantage online account management system. The employee then submits one form to you to authorize the deduction in your payroll system. If you have an employee self-service benefits system, the employee ​will also do that themselves instead of submitting a paper form to you. What could be easier?

We use the same ACH direct deposit system that you are probably already using to deposit employee pay to bank accounts, credit unions, and other depositories. (NOTE: CollegeAdvantage Direct 529 Savings Plan payroll deductions use after-tax dollars.) Interested in learning more about CollegeAdvantage in the workplace? Send us an email today.

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