Spring into UA College Savings Plan with payroll deduction
April 4, 2016
You can sign up for the University of Alaska College Savings Plan at any time, but
the open enrollment period for making changes to your UA benefits is also a great
time to start or increase those savings.
The open enrollment period is April 15–May 16 for changes that take effect beginning July 1.
University employees who want to save automatically into the UA College Savings Plan
have the added ease and benefit of using a payroll deduction.
The UA College Savings Plan is a top-ranked 529 plan, offering investments that grow
tax-deferred and earnings that are tax-free if used for qualified education expenses.
Here are a few great reasons to start using payroll deduction:
- Payroll deduction is convenient way to fund your college savings accounts.
- A college savings plan used in tandem with the employee tuition wavier benefit can go a long way to cover costs above and beyond tuition such as room, board and fees.
- The accounts may be used at any accredited institution, including UA and even a few hundred internationally.
- The accounts may be used for vocational and technical education
To participate in payroll deduction, employees should:
- Set up an account in the UA College Savings Plan online at www.uacollegesavings.com or call 1-800-478-0003.
- Fill out the salary reduction form and return it to the UA College Savings Plan office (http://www.alaska.edu/files/hr/uacsp_payroll_dedn_form.pdf).