Help Your Employees Save for Education
As an employer, you can help your employees save for education by providing a payroll deduction benefit with minimal administrative effort. The NC 529 Plan is proud to provide an easy way to help you encourage your employees to save and invest for 2-year and 4-year college expenses, K-12 tuition, trade school and apprenticeships, and even student loan payments. It’s super easy and won’t impact your budget because there is no cost to you.
If you manage your company’s benefits and would like to start offering payroll deduction for your staff, complete either (1) the Employer Profile or (2) the Group 529 Plan for State Employees (for State of North Carolina agencies, departments, bureaus and institutions making payroll deduction available under G.S. § 143-3.3).
Once the Employer Profile is established the NC 529 Plan will issue an Employer Code to you. You select the enrollment period(s) and invite your employees to enroll. Employees will need to establish an NC 529 Account or specify an NC 529 Account for the receipt of their payroll deductions. Then you simply submit your employee payroll deduction roster to us each pay period using the method you prefer. Contributions are made with post-tax dollars, so, no further payroll tax reporting is required. Then, you can sit back and feel good about the great things you’ve done to help your company and your employees!