Employer sponsored plan

Grow your relationships with employers

Clients who are business owners or executives may be interested in offering a 529 plan via payroll deduction as an employee benefit. CollegeBound 529 can be an attractive opportunity for you to deepen employer relationships while providing an easy-to-administer employee solution.

Learn the advantages of CollegeBound 529.

529 payroll direct deposit plans:

  • Offer a true benefit that is meaningful to the employee
  • Can increase employee satisfaction
  • Require little-to-no additional work for corporate HR departments
  • Can be offered at little-to-no cost to the employer

529 Employer plan

Unit classes to meet your business goals:

  • Class A units. Available for employers with fewer than 250 employees
  • Class C units. Available for employers with fewer than 250 employees
  • Class A @ NAV (Corporate) units. Available for employers with greater than 250 employees

The Program Description provides information on eligibility and other important topics; read and consider it carefully before investing.

Learn more about how corporate plans can help grow your relationship with employers.

Investment minimums and maximums

Minimum initial purchase $0
Minimum subsequent purchase $0
Maximum account balance limit (earnings can continue to grow past the maximum account balance limit) $500,000
Annual contribution limit without incurring gift-tax consequences

  • $15,000 per beneficiary each year
  • $30,000 if married, filing jointly
  • Contributor may choose a special election that allows for $75,000 contribution ($150,000 if married, filing jointly) as if made over a five-year period
Program management fee 0.15%

Rhode Island resident accounts will not be assessed a program management fee.

Other Fees may apply. The Program Description discusses fees and expenses; read and consider it carefully before investing.

Employers with an employer identification number (EIN) are eligible to establish an employer-sponsored plan.