For Employers

A voluntary financial wellness benefit for your employees

Are you looking for a competitive edge to attract and retain high-quality talent?

  • According to a Bank of America survey, 62% of employers feel a high degree of responsibility for their employees’ financial wellness.
  • Plus, the number of employees who see their financial wellness as at least “good” has decreased sharply over the past two years.

FAQ

Learn more about how a my529 account works—from account owners and beneficiaries to contributions, tax advantages, and how funds can be used.

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Why offer my529?

my529 is an investment in the future—and a benefit to your employees—all at no cost to you.

Offering employees my529 as a means to invest for education shows you care about them, their families and their own educational pursuits.

Spend a couple of minutes learning about my529

Utah’s official 529 college savings plan has been helping people prepare for the cost of education for more than 25 years.

Register with my529 today

Offer your employees a voluntary benefit at no cost to you by becoming a registered employer with my529.

Registering allows you to schedule my529 at a health or benefit fair, or to give a presentation (virtual or in-person), and you may receive payroll direct deposit info or request a promotional offer for your employees.

When my529 confirms your registration request, you will receive a welcome gift and helpful, monthly content to share with employees via email or newsletter.

register here

Employer benefits

  • Helps employees invest for qualified education expenses.
  • Can help you retain talent.
  • Employee onboarding materials available.
  • Simple to implement.
  • Increased productivity and morale.
  • Loyalty from employees.

Employee benefits

  • Accounts are free to open.
  • Earnings are tax-free when spent on qualified education expenses.
  • Funds can be used at eligible colleges, universities, and technical schools nationwide and abroad.
  • Utah state tax credit available for Utah taxpayers.
  • Fees are among the lowest in the nation.
  • Earnings on nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty, as well as state and local income taxes.

Downloadable Resources

my529 can provide materials for employee onboarding.

my529 General Brochure
my529 General Brochure
my529 FAQ
my529 FAQ (Spanish)
my529 Presentation Poster
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Payroll Direct Deposit Tutorial
Payroll Contribution Tutorial
my529 Logos and Ad
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my529 logo jpg

Employer topics

You may use the following articles to help your employees learn more about 529 college savings plans. Share links through your workplace newsletters, emails or intranet.

And find more in our Employer Topics Archive.

Make their studies easy, and your shopping easier

my529 has made it easier than ever to let your college student shop for what they need with the new my529 Access Discover® Prepaid Card. 

Local Summit and Job Fair for National Apprenticeship Week

In addition to the more commonly recognized ways of using my529 funds, you can put that money to good use in lesser-known ways.

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Qualify for tax credits, deductions

Are you already saving? Extend that money with a tax-advantaged 529 account. 

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Important Legal Notice

Investing is an important decision. The investments in your account may vary with market conditions and could lose value. Carefully read the Program Description in its entirety for more information and consider all investment objectives, risks, charges and expenses before investing. For a copy of the Program Description, call 800.418.2551 or visit my529.org.

Account Value. Investments in my529 are not insured or guaranteed by my529, the Utah Board of Higher Education, the Utah Education Savings Board of Trustees, any other state or federal agency, or any third party. However, Federal Deposit Insurance Corporation (FDIC) insurance is provided for the FDIC-Insured investment option. In addition, my529 offers investment options that are partially insured for the portion of the respective investment option that that includes FDIC-insured accounts as an underlying investments. Units in my529 have not been registered with the United States Securities and Exchange Commission or with any state securities commission.

FDIC insurance is subject to limits set by federal law. Click here for more information about FDIC Insurance.

Non-Utah Taxpayers and Residents. The state in which you or your beneficiary pay taxes or live may offer a 529 plan that provides state tax or other benefits, such as financial aid, scholarship funds, and protection from creditors, not otherwise available to you by investing in my529. You should consider such benefits, if any, before investing in my529.

Consult an advisor. my529 does not provide legal, financial, investment, or tax advice, and the information provided on this website does not contain advice and cannot be construed as such or relied upon for those purposes. You should consult your own tax or legal advisor to determine the effect of federal and state tax laws on your particular situation.

Morningstar rating. A Morningstar Analyst Rating for a 529 college savings plan is not a credit or risk rating. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions. Morningstar does not represent its analyst ratings to be guarantees. Please visit Morningstar.com for more informat/investment-options/underlying-investments/ion about the analyst ratings, as well as other Morningstar ratings and fund rankings.

my529 does not pay commissions, loads or sales charges to financial advisors nor does it endorse financial advisors.

Information on this website is believed to be accurate when posted and is qualified in its entirety by the Program Description.