College Savings Plan at Work

Offering a free college savings plan as an employee benefit is a powerful way for employers to support their workforce while fostering long-term financial security. With the rising cost of higher education, many employees worry about how they will afford college for their children. By providing a no-cost savings plan, such as a 529 plan with payroll deduction options, employers can help ease this financial burden, enhance job satisfaction, and improve employee retention. This benefit demonstrates a commitment to employees' futures, making the company more attractive to top talent and reinforcing a culture of financial wellness. As a valued client of JB Wealth Management, we can set this up for you.

Employer benefits

Tax-advantaged investment to help attract, motivate and retain employees.

Allows employees to save and pay for a loved one's primary, secondary, and college education.
Build their own skills and knowledge by helping employees save and pay for graduate school, technical and professional training programs and apprenticeships.
Improve employees' financial wellness by providing access to the 529 plan's financial professional.

Easy setup and maintenance with no cost to employers

No account setup or maintenance costs means employers can offer an employee benefit at no cost to the employer.
Employer access to our Online Group Investment Website allows them to set up automatic payroll deductions that make it easy for employees to invest.
Employees manage their accounts directly with the plan's financial professional.

Wide eligibility for both employers and employees

Large and small businesses, professional offices, startups and even sole proprietorships can launch a 529 plan.
All full-time and part-time employees are eligible to participate.
No minimum participation - a single shareholder is enough. And employees can open accounts for any beneficiaries, no matter how much they learn.

Employee benefits

Low costs and low minimum investments

No up-front sales charge - means all of an employee's investment is put to work immediately
Low fees- CollegeAmerica's fees are among the lowest for advisor-sold 529-college saving Plans. *
Low minimum investment - can open a plan with little as $25.

Time-tested flexible investments

Access o American Funds mutual funds, which have produced superior outcomes.⁵Past results are note predictive of results in future periods.
Choice of flexible, easy-to-use solutions, including target date funds.

Easy-to-use online resources and tools at "Saving for college" on our website: capitalgroup.com/indivudal/planning/college-savings.html

Learn how to build a plan based on the employee's life stage and unique educational needs and goals.
Plan using our savings calculator that shows how regular investments can grow over time and our college calculator that compares costs for two-and four-year-public, private, and Ivy League colleges.
Choose from CollegeAmerica's many investment options, including individual mutual funds, target date funds and funds of funds.

Prior to investing in a 529 Plan, investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.