WA529 in the Workplace
As part of a nationwide initiative to bring 529 college savings information and resources to families, Washington College Savings Plans (WA529) designed a unique resource package for employers, called "WA529 in the Workplace".
WA529 in the Workplace includes a variety of resources and engagement opportunities for employers to help empower and support their employee's financial wellness and education. With National student loan debt at 1.7 trillion dollars, you can provide some tools they need to take steps toward financial wellness.
Incorporating 529 college savings information in your workplace as a voluntary benefit promotes your organization and supports your employees - at no cost to you!
- Competitive edge: Less than 10% of employers offer a 529 plan option to their employees, resulting in them having to dip into savings and borrow student loans. By offering a 529 plan as a benefit, you will increase your competitive edge in the marketplace. According to the Center on Education and the Workforce, nearly 70% of jobs openings still require some form of higher education.
- Retention: Happy employees are healthy employees. Enjoy better retention and increased performance.
- Contribute to the community: Offering a 529 plan not only contributes to the overall reduction of new student loans, but also helps the children of your employees reach their education potential.
- Support student success: Children with dedicated college savings account in their name are seven times more likely to graduate from high school and continue on with a post-secondary education.
Steps you can take to empower and support your employees
- Provide materials and brochures.
- Schedule a Lunch and Learn or presentation (for any time of the day). WA529 representatives can facilitate a virtual session to educate your employees about 529 plans.
- Invite WA529 to participate in your virtual or in-person employee wellness/benefit fair.
- Ask us for information to add to your employee newsletter.
- Offer payroll deduction to make saving easier and something employees don't have to think about.
For additional details or questions, please contact Jackie Ferrado, WA529 Community Relations Manager, at WA529Outreach@wsac.wa.gov, 360.764.9204 (cell) or 360.753.7875 (voice mail).