PA529 College Savings Program

Employers understand the growing need to support family financial issues including health care benefits and retirement. Financing higher education is a concern to many employees as well. PA 529 can provide you with an easy way to address that concern. Pennsylvania Treasury administers the PA 529 College Savings Program (PA 529). Many financial experts agree that these types of programs are one of the best way to save for higher education due to the many tax advantages that they offer.

To meet the needs of nearly everyone wishing to save for college, PA 529 offers two distinct college savings plans: the PA 529 Guaranteed Savings Plan (GSP), in which growth is tied to the rate of college tuition inflation, and the PA 529 Investment Plan (IP), which offers 16 investment options by The Vanguard Group.

Offering PA 529 as a voluntary benefit is free for Pennsylvania employers. An employee would fund his or her 529 directly; no changes are required on W-2 reporting, as the direct payroll deposits are made into the 529 plan with after-tax dollars.

Allowing parents, grandparents, relatives and friends to save as little as $15 per pay makes this a simple, affordable way to save for higher education.

Pennsylvania’s 529 College Savings Program is designed to help families of all income levels save for this important goal.

To learn more about the PA 529 College Savings Program and to read important disclosures, visit PA529.com or call 800-440-4000.