Group College Savings

Why should I consider offering a group college savings plan for my employees?

With college costs rising faster than inflation, many students need assistance paying for their higher education. Employers, working alongside their financial planner, can offer a CollegeAmerica 529 College Savings Plan as part of their employee benefits package.

Setting up a group college savings plan can be a smart way to provide for one of your key assets – your people – as well as benefitting you and your business. A quality college savings plan can help attract and retain valuable employees and reduce your company’s tax burden.

What are the employer benefits to the CollegeAmerica 529 College Savings Plan?

A CollegeAmerica 529 College Plan enables employers to provide an employee benefit with no startup costs or recordkeeping expenses to employers, and no up-front sales charge for participants.

Also, there is no administrative burden and while widespread employee participation is welcome, no minimum participation is required; a single shareholder is enough.

Who can establish and participate in a CollegeAmerica 529 Plan?

Any employer with an employer identification number (EIN) is eligible to establish an employer-sponsored CollegeAmerica plan, and all employees, including part-time employees, are eligible to participate.

Ferruso & Associates can help you get a CollegeAmerica 529 Group College Plan started for your company and employees.

Schedule an appointment with Ferruso & Associates today!