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Voluntary Employee Benefit

As a Colorado employer, you can offer your employees the free, voluntary benefit of saving for college with a 529 plan. You can also make it super convenient for them by offering direct deposit. This is not a payroll deduction; it’s simply a direct payroll deposit, just like you probably already do for them.

The key to offering this benefit is to educate your staff about 529s. To do this, we’ll host a Lunch & Learn to talk about college costs, the nuts and bolts of a 529 plan and how to open an account. We provide lunch, and all attendees receive free $25 starter accounts to get them started. We’re also happy to participate in your benefits/wellness fair.

Lunch & Learn

A member of our Employer team is available to host a free Lunch & Learn at your workplace. In our one hour presentation, we’ll cover:

  • current college costs
  • why it’s better to save than borrow
  • tax benefits of a 529 plan
  • an overview of Colorado’s 529 plans
  • how to enroll
  • setting up direct deposit
  • how to redeem the free $25 starter accounts

Our goal is to equip your employees with the necessary information to make a decision that is right for their financial situation. Importantly, as we are a not-for-profit state agency, there is no sales pitch.

Everything you need to know about offering 529s to your employees.

Everything you need to know about offering 529s to your employees.

Denver Health is committed to supporting the financial wellness of our employees and CollegeInvest is a vital part of that. Thankfully, CollegeInvest makes it so easy!Tracy Shea, Denver Heath Workplace Well-being Strategist

Frequently Asked Questions from Employers

I don’t think I have time or bandwidth to offer this. What, exactly, is required of me?

We know you are busy, and we make it very quick and easy:

1) Schedule a day and time for your Lunch & Learn; reserve a room for our meeting.
2) Send out the provided invitation to your staff, and request them to RSVP.
3) Give us a headcount for lunch the day before we come out. There is no administration; no paperwork.  And we handle all follow-up/enrollment questions directly.

What does this program cost?
There is no cost at all to you, or your employees. We provide lunch and all materials. This is a free service offered through the State of Colorado.
What, exactly, are you selling?
As a not-for-profit State agency, CollegeInvest doesn’t sell anything. Our Lunch & Learn presentations are purely educational and designed to benefit your employees.
How does the direct deposit work?
It is a post-tax direct deposit from an employee’s paycheck, directly into their 529 account. Think of it like the standard direct deposit; it is NOT a payroll deduction. When an employee opens a 529, they receive an account number and a routing number. They provide this information, along with the amount they’d like to have deposited from each paycheck, to your payroll department. In the event your company has self-portals where employees manage their benefits themselves, then you don’t have any involvement at all.