A 529 Plan and Work

According to CNN Money,”Someday soon, your employer may match your contributions to a 529 college savings plan, just like it does with your 401(k).” I don’t have much knowledge about this plan other than some people using it as a way to build funds to pay for their kids college. The plans are typically sponsored by states. Tax benefits and rules vary by states; some shopping around is needed. If you have kids or for whatever reason want to save for college than having an employer match your contribution to A 529 could be very useful. CNN Money goes on to say that “One company is already pioneering this concept. Dun & Bradstreet Credibility, a credit reporting and monitoring firm for businesses, is now offering a 529 college savings plan to its 600 employees that matches annual contributions up to $2,500 for salaried workers and $1,000 for hourly employees, dollar for dollar.” This is an excellent way to invest in the future of your employees and can be a great motivational tool. At a time of high college cost this could be a powerful tool for many families.  The pioneering company of  Dun & Bradstreet is providing the blueprint for it’s A 529 contribution program, called EdAhead, to other companies free of charge; I really hope this trend continues. Click here to read the full article.