Simplify College Savings for Your Employees
Make saving for college effortless and stress-free for your employees with Paidly. Our approach removes the complexity, making it simple for employers to contribute to employees' children's 529 plans.
Easy admin
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 employee's 529s and student loan benefit plans with ease
529 Plans Make the Perfect Employee Benefit
Embracing the power of 529 College Savings Plans not only supports your employees' financial well-being but also builds a more committed and motivated workforce.
66%
Enhanced 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 critical need, ensuring your employees' salaries are directed towards their present needs and not just future education expenses.
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.
Perfect Pairing with Student Loan Repayment Benefits
Pairing 529 plan contributions with Student Loan Repayment benefits creates a employee benefit package that supports no matter where they stand on repaying past education costs or preparing for future ones.
Find Your State's 529 Plan
View detailed information on available State 529 plans. Discover the best options to maximize your educational savings.
Explore 529 Plans →
Hassle-Free Implementation
Simplified 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, our approach offers a hassle-free onboarding and management system, ensuring privacy and compliance without the need for employers to handle sensitive information directly.
Do you have questions?
Our support team ready to help you at [email protected] or Toll Free: (888) 384-6010
- 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/ - Willis Towers Watson (WTW). (2024, June 24). Survey: 66% of U.S. workers want their employer to help them with their financial wellness
https://www.wtwco.com/en-us/news/2024/06/majority-of-employees-worried-about-meeting-basic-costs-wtw-survey-finds
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.