Update your college savings during open enrollment
April 18, 2017
By Lael Oldmixon
Executive director, UA College Savings Plan
The UA College Savings Plan would like to remind UA employees that the open enrollment period for employee benefits, April 17-May 15, is a great time to start, review or increase college savings for a loved one. You can save through employee payroll deductions or automatic monthly contributions from your bank account. As the nation’s only 529 plan located within the walls of a university, we have a unique perspective and ability to support students and employees in paying for post-secondary education.
Students requesting distributions to pay for their educational expenses are always grateful to have had money saved on their behalf. UA employees with college-age children or with a desire to attain their own degrees are equally thankful that they are able to supplement the employee tuition waiver with money saved in tax-advantaged college savings accounts. As the benefits of savings come to fruition for the beneficiary, we celebrate. We are happy to make saving for college easy for you.
Easy ways to get started:
- Grow your accounts through systematic monthly contributions. Payroll deduction is a convenient way for UA employees to fund their college savings accounts. To participate in payroll deduction, first set up an account in the UA College Savings Plan. Register online or by calling 1-800-478-0003. Then, fill out the payroll deduction request form and return it to the UA College Savings Plan office. Alternatively, you can enroll in automatic monthly contributions.
- Follow the UA College Savings Plan on Facebook and watch for updates about upcoming events and tips.
- Get to know the UA College Savings Plan staff. Drop into Suite 207 of the Butrovich Building (Fairbanks) or Suite 209 of the Bragaw Office Building (Anchorage), or reach us at 474-5671 and collegesavings@alaska.edu. We’re here to answer your 529 questions.