The Education Plan® Boosts Employee Appreciation
For Immediate Release
Contact: Joanie Griffin
505.261.4444
jgriffin@sunny505.com
For New Mexico businesses, the state’s 529 college savings plan – The Education Plan® – is a great way to gain employee appreciation and loyalty. The plan is available to employers at no cost, contributions can be included in regular payroll deductions, and employees can start saving with as little as $1 to open an account. Including the Education Plan as part of a company benefits package is way to score high marks and loyalty from employees.
For Immediate Release
Contact: Joanie Griffin
505.261.4444
jgriffin@sunny505.com
For New Mexico businesses, the state’s 529 college savings plan – The Education Plan® – is a great way to gain employee appreciation and loyalty. The plan is available to employers at no cost, contributions can be included in regular payroll deductions, and employees can start saving with as little as $1 to open an account. Including the Education Plan as part of a company benefits package is way to score high marks and loyalty from employees.
The Education Plan® also provides tax advantages for New Mexicans. Contributions are tax deductible for New Mexico income tax, and the funds grow tax-free. Contributions can be used for a loved one or for the employee to pay for continuing education. Growing contributions over time will help the beneficiary cover escalating costs regardless of their age, career path, or financial situation. Future withdrawals are tax-free to cover education expenses including tuition, housing, meal plans, books, supplies, computers, and fees.
“In today’s workplace, many employees are stressed by the fear of accumulating student loans either for themselves or a loved one,” explained Ted Miller, Executive Director of the Education Trust Board of New Mexico, the organization that sponsors The Education Plan®. “Offering a 529 savings account can provide tremendous tax savings and financial advantages to employees, thereby improving their well-being while increasing productivity and morale.”
The Education Plan® offers employees a seamless and sensible way to cover education expenses. It gives employers another valuable benefit to offer, making it a win-win for everyone.
- The Education Plan® Provides:
- An employee benefit with no cost to the employer
- Potential tax benefits for employees
- No fiduciary responsibility for the employer
- Enhanced benefits package
- Empowered employees to further their education or a loved one’s education with less debt
- Gives the company a competitive edge for recruitment & retention
- Matching contributions optional
To learn more about adding the Education Plan as part of your employee benefits package, visit theducationplan.com or call 1 (877) 337-5268
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