Using Payroll Deduction to Help Kickstart Your 529
Employees Can Save Automatically through Payroll Deduction
One of the easiest ways to save for college in the NC 529 Plan is to enroll in the Payroll Deduction Option because the deduction is made from your paycheck and sent directly to us by your Employer. The Employee will either Enroll and obtain a 12-digit Account number for each Beneficiary that you have or obtain the 12-digit Account number(s) of the Beneficiary to whom you will contribute (an employee may contribute to any NC 529 Plan Account(s) they choose). The Account number(s) are used to complete the Payroll Deduction Authorization Agreement Form (C426). The original Payroll Deduction Authorization Agreement will be submitted to your Payroll Office and a copy will be submitted to the Program for processing to begin.
Other Perks Include:
- No enrollment fees or sales charges to open or maintain an Account or participate in the Payroll option
- Low minimum contribution of just $25 per pay period
- Employees can contribute to an Account owned by another individual for the Beneficiary or multiple Beneficiary Accounts.
- The Payroll Deduction can be initiated or canceled by the completion of a form.
- Employees from other Payroll Providers may contribute to your established NC 529 Plan Account(s).
Email your Employer a link to our page and express interest in having them facilitate saving for college with the NC 529 Plan.