Secure the Best Talent with Employer 529 ContributionsThe Benefit That Invests in Their Future
Emphasize the importance of supporting your employees and their families with direct contributions to their 529 educational savings plans.
A Savings Plan that Benefits Everyone
529s are no longer just for college savings - they cover a wide range of education opportunities, including upskilling for employees.
K-12 Expenses
Cover supplies, curriculum, tutoring, college admissions exams, and much more.
College or Trade School
Pay for tuition, textbooks, equipment, housing, and even student debt.
Workforce Education
Use on continuing education credits, certificates, and licensure fees.
Retirement
Rollover funds to an IRA or pass down the account to family members.
529 Contribution Makes the Perfect Employee Benefit
Embracing the power of 529 Savings Plans not only supports your employees' financial well-being but also builds a more committed and motivated workforce.
Talk to an ExpertEnhanced Employee Retention
A recent survey showed that 66% of employees are more likely to stay with an employer that offers financial planning benefits, including educational savings support.
Diverse Benefits
With college costs rising by approximately 6.8% each year, a 529 plan is a forward-thinking benefit that addresses a big stressor while letting your employees focus their paychecks toward present needs.
Tax Advantages for Both Sides
Contributions can grow tax-free, and withdrawals for qualified education expenses are exempt from federal tax, offering a tangible benefit that is also cost-effective for employers.
44%
of parents prioritize saving for retirement over college²
40%
of parents still have student loan debt of their own.²
Perfect Pairing with Student Loan Repayment Benefits
Pairing 529 plan contributions with Student Loan Repayment benefits creates a benefits package that supports employees no matter where they stand on repaying past education costs or preparing for future ones.
Friends and Family Help Maximize the Benefit
Employees can amplify 529 savings by accepting donations from friends, family, and employers using their Paidly account. It's an extra perk with no additional cost or setup.
Find Your State's 529 Plan
View detailed information on available State 529 plans. Discover the best options to maximize educational savings.
Explore PlansSimplify Education Savings for Your Employees
Make saving for K-12, college, and further education effortless for your employees with Paidly. Our approach removes the complexity, making it simple for employers to contribute to employees' 529 plans.
Easy Administration
Manage your plans and employees with ease and simplicity.
Quick Setup
Get up and running in minutes with our fast setup process.
Flexible Benefit Plans
Contribute to employees' 529s and student loan benefit plans hassle-free
Easy Employee Enrollment
We simplify the incorporation of 529 savings accounts into benefits packages, allowing for employer contributions similar to student loan repayment. Employers can easily invite employees via email. We handle the verification process, offering a hassle-free onboarding and management system to ensure privacy and compliance without the need for employers to handle sensitive information directly.
Smooth Integration
Our solution integrates seamlessly into your existing HR systems, making it easy to offer a transformative benefit in minutes, not days.
Talk to an Expert
Have questions?
Our support team is ready to help. Email us at [email protected] or call toll-free: (888) 384-6010
- Willis Towers Watson (WTW). (2024, June 24). Survey: 66% of U.S. workers want their employer to help them with their financial wellnesshttps://www.wtwco.com/en-us/news/2024/06/majority-of-employees-worried-about-meeting-basic-costs-wtw-survey-finds
- LendingTree. (2018, January 24). Survey: 44% of Parents Feel Guilty About Not Saving Enough for College.https://www.lendingtree.com/student/parents-feel-guilty-about-not-saving-enough-college-survey/
Prior to making a commitment to any 529 savings plan, it's crucial to assess whether benefits specific to your, or the intended recipient's, state of residence are available. These state-specific advantages, which may include deductions or credits on state taxes, financial aid eligibility, scholarship opportunities, and safeguards against creditors, could significantly impact your decision if they are only accessible through investing in your home state's 529 plan. For a comprehensive understanding of how these state-specific perks—or their restrictions—might impact your unique situation, it's advisable to seek guidance from a finance, tax, or legal professional.
Furthermore, it's a good idea to directly reach out to your own state’'s 529 plans, or explore other state plans, to gather information about their individual offerings, advantages, and limitations. Remember, the availability of state-level benefits is just one of several factors to weigh carefully as you plan your investment strategy.
Investing in a 529 plan involves buying municipal securities, the value of which will fluctuate based on market trends. There is no guarantee of returns, and investing in a 529 plan entails the risk of losing money. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences
Management of a 529 plan account is in the hands of the account holder. Contributions to such accounts could trigger gift-tax or other tax ramifications. To fully understand these potential impacts, consulting with a tax advisor is strongly recommended.