Give the Gift of Education to your Employees by Offering The Education Plan®, 529 Education Savings Plan

For Immediate Release
Contact: Joanie Griffin

By offering unique employee benefits–like a 529 education savings plan–employers can provide their team members with impactful benefits to further their financial well-being while also remaining competitive during recruitment.

In today’s competitive marketplace, where employers are striving for new ways to retain their workforce, a 529 education savings plan can be a great addition to a company’s suite of benefits. The Education Plan®, 529 education savings plan can be implemented at no cost to employers and requires no government reporting, making it a quick and easy employee benefit to include. Plus, employers can choose to match all or a percentage of employees’ contributions. With The Education Plan, employers can help their employees prepare for their future or the future educational needs of loved ones easily through payroll deduction. Employers can play a key role in strengthening the current and future workforce with one meaningful step.

Enabling employees to make deposits directly into their children’s or grandchildren’s 529 education savings plans through payroll direct deposit is a great way to help employees and their families save more consistently and reduce the future burden of student loan debt. The Education Plan has dedicated outreach staff available to conduct educational workshops, supply information and provide hands-on enrollment assistance.

With rising college tuition costs and the current student debt averaging over $37,000, an account with The Education Plan can help alleviate the burden and stress of planning for future education costs for employees, making it a win-win for both the employer and employee. The Education Plan can easily enhance an employee benefits package in a unique, innovative, and future-thinking way.

Studies show that with just $500 saved, a child is three times more likely to attend college or vocational school and four times more likely to graduate. With no minimum contribution required, an account can be opened at any time and savings can easily grow with the help of gift contributions from family and friends. Investment growth and distributions are tax-free as long as the account is used for qualified education expenses. Plus, contributions to The Education Plan® are fully deductible on New Mexico state income tax returns.

529 education savings plans are flexible, giving employees an option to save for the future—even if they might not have it mapped out yet. 529 plans can be used at vocational or trade schools, professional schools, colleges, or universities nationwide to pay for qualified education expenses including tuition and fees, housing, meal plans, books, supplies, computers, and more. 529 funds can also be used to pay for K-12 tuition and apprenticeship expenses.

“A 529 education savings plan is a meaningful and useful benefit to thank your employees for their hard work and help your business stay competitive with its benefits package,” said Natalie Cordova, Executive Director of the Education Trust Board of New Mexico, the organization that administers The Education Plan®. “In today’s job market, employees are seeking competitive benefits, and offering your team members an opportunity to save for future expenses can be a huge boost that will contribute to their success.”

Employers can easily promote a strong workforce by enhancing their benefits package and including The Education Plan.

To learn more about offering The Education Plan as an employee benefit, visit


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The Education Plan® and The Education Plan® Logo are registered trademarks of The Education Trust Board of New Mexico used under license.

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For more information about The Education Plan, call 1.877.337.5268 or view the Plan Description and Participation Agreement, which includes investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing.

Please Note: Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program. You also should consult a financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to contact directly your home state’s 529 plan(s), or any other 529 plan, to learn more about those plan’s features, benefits and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.

The Education Plan is administered by The Education Trust Board of New Mexico. Ascensus College Savings Recordkeeping Services, LLC, the Program Manager, and its affiliates, have overall responsibility for the day-today operations, including investment advisory, recordkeeping and administrative services. The Education Plan’s portfolios invest in: (i) mutual funds; (ii) exchange traded funds; and/or (iii) a funding agreement issued by New York Life. Investments in The Education Plan are not insured by the FDIC. Units of the portfolios are municipal securities and the value of units will vary with market conditions.

Investment returns will vary depending upon the performance of the portfolios you choose. You could lose all or a portion of your money by investing in The Education Plan depending on market conditions. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences.

Ugift is a registered service mark of Ascensus Broker Dealer Services, LLC.

The Education Plan® and The Education Plan® Logo are registered trademarks of The Education Trust Board of New Mexico used under license.

All other marks are the exclusive property of their respective owners.

Not FDIC-Insured. No Bank, State or Federal Guarantee. May Lose Value.