The Workplace Savings Program – Be an HR Hero
A Passionate Concern of Your Employees
“The ScholarShare 529 Workplace Savings Program is an opportunity for employers in California and beyond to have a positive impact on the lives of their staff. We encourage you to give this program careful consideration.”
– Julio Martinez, Executive Director, ScholarShare College Savings Plan Investment Board
It’s no secret that college is expensive and that your employees with families are worried about paying for it. But more than 900 companies in California and beyond have discovered a way to make a big difference—with a program that can be worth thousands of dollars in tax benefits to their employees saving for a child’s higher education.1
The program is ScholarShare 529 Workplace Savings. It is a direct deposit program, so all you have to do to participate is assign a payroll slot.
- There are no reporting or contract requirements
- It’s extremely easy to set up
- And best of all—there is no cost to the employer
What sort of companies participate?
More than 900 companies offer the ScholarShare529 Workplace Savings Program, from high-tech giants, global media companies and leading-edge hospitals to small businesses, state agencies, counties, cities and special districts.
To match or not to match
Similar to 401(k) plan benefits, more and more companies are offering employee 529 plan contribution matches. Whether or not your organization offers this, your employees will still truly appreciate being able to participate in the Workplace Savings Program.
Will Your Employees Really Care?
Yes—dramatically so. According to a study of California parents conducted for ScholarShare 529.2
- Strategic Insight 2018 529 Plan Industry Analysis
- ScholarShare 529 2018 Study of 1000 California families planning on saving for a child's college education