Attract top talent
Contributing to a 529 account can attract employees who are looking to use their account to pay down student debt or start saving for their children' s education.
529 education savings
529 accounts help pay for future education expenses and give employers an opportunity to contribute to employee goals and increase engagement
Improve employee engagement
By helping employees build a stronger financial future, employers can help decrease stress and improve quality of life for their team.
Build a strong work culture
Investing in the future of your employees helps show that you understand the struggles they face and care about them and their unique, individual goals.
Retain invaluable employees
Employees who feel supported by their employers are more confident in their employment, and less likely to look for work elsewhere.
Start your employees on the road to financial wellness
Vestwell offers powerful solutions to reduce employee stress and increase financial security. Employers can make direct contributions to their employees’ 529 savings accounts with College SaveUp.
College SaveUp makes supporting your employees easy.
Customizable
You pick the contribution amount and frequency, and whether it increases.
Flexible
You can use College SaveUp to add one-time bonuses as an extra perk.
Trusted
We ensure that every contribution gets paid directly to your employees’ 529 accounts.
FAQ
A College SaveUp plan is an employee benefit that enables employers to help their employees save for college by making direct contributions to a 529 college savings account held by the employee.
A 529 plan is a tax advantaged savings plan designed to help individuals save for college. 529 plans are sponsored by states and are named after Section 529 of the Internal Revenue Code. Each 529 account must have a designated beneficiary, who will incur the educational expenses and must meet relationship criteria to the account owner.
529 funds can be withdrawn federally tax-free as long as they are used for the designated beneficiary's qualified education expenses, including, but not limited to, tuition, fees, books, and room and board.
Currently, all direct-sold 529 plans are eligible plans. To receive contributions, you must have a 529 college savings plan approved by Gradifi. If you do not currently have an approved 529 account, you may open a new direct-sold 529 account and then register it with Gradifi.
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https://www.usnews.com/education/best-colleges/paying-for-college/articles/see-20-years-of-tuition-growth-at-national-universities