EverTrue Expands 529 College Savings Plan to Pennsylvania
EverTrue continues our commitment to helping team members and their families prepare for a successful future by offering the “PA 529 College & Career Savings Program” to team members in Pennsylvania, joining the already established programs in Missouri and Illinois.
“We’re thrilled to expand the availability of this program to our team members in Pennsylvania,” says Denis Thien, EverTrue Director of Total Rewards. “By offering this benefit, we are helping our team members set their loved ones up for future success—whether it’s for traditional college education, technical training or other career-focused opportunities. The PA 529 plan is a wonderful way for our team members to invest in their family’s future while benefiting from immediate tax advantages.”
Read on to learn how 529 Education Savings Plans offer a simple and effective way to invest in the education and future success of loved ones.
Pennsylvania
The PA 529 College & Career Savings Program allows participants to set up automatic contributions directly from their paychecks into a dedicated savings account for educational expenses. Whether saving for a child’s future tuition or funding a grandchild’s career development, this voluntary benefit is open to team members who wish to save for any future educational pursuit, including college, vocational schools and even K-12 tuition. The flexibility of the PA 529 plan ensures that it can be used for a wide range of expenses, from tuition to books, fees, and even certain apprenticeship programs. And, because it’s never too early or too late to start saving, team members can benefit regardless of their child’s age, making this an accessible and valuable resource for families at all stages.
In addition to the ease of setting up automatic contributions, the PA 529 plan comes with several noteworthy advantages that make it a powerful tool for education savings:
Tax Benefits: PA taxpayers can deduct up to $19,000 annually, per beneficiary, from their state taxable income, giving team members a direct financial advantage. Additionally, both federal and state tax-deferred growth, along with tax-free withdrawals for qualified expenses, can help maximize the value of each contribution.
Financial Aid and Inheritance Tax Exemption: Contributions to a PA 529 plan are excluded from both Pennsylvania financial aid calculations and the state's inheritance tax, offering further financial advantages to families.
Accessibility and Flexibility: With no minimum deposit required to open an account, team members can start saving with as little as $1, and contributions can be made directly from paychecks for ease and consistency.
To learn more about 529 savings in Pennsylvania (as well as in Missouri and Illinois), visit http://www.EverTrueBenefits.org/529. You can also call 800.400.4000 for additional information before enrolling.
Missouri
Missouri’s state-sponsored plan is called “MOST.” The 529 benefits offered through Missouri are robust and you can leverage these accounts to save for tuition at the following types of educational institutions: two- or four-year colleges and universities, trade and vocational schools, K-12 public, private, and religious schools, graduate schools, continuing education courses, and registered apprenticeships. In addition, you can even save for these additional expenses: books and supplies, room and board, fees, computers, internet access and student loan repayment.
Visit https://www.missourimost.org/ to learn more.
Illinois
The Illinois state-sponsored plan is called “Bright Start.” The 529 benefits offered through Illinois can be leveraged to save for tuition at the following types of educational institutions: public and private universities, community colleges, trade and vocational schools, and graduate school programs. In addition, you can even save for these additional expenses: books and supplies, room and board, fees, computers and required software, and student loan repayment. Visit https://brightstart.com/ to learn more.
Getting started
To learn more about how you can set up your account and start saving today, visit https://www.EverTruebenefits.org/529. Contributions from your EverTrue paychecks can be easily set up via Workday, and a helpful job aid is available here to guide you through the process.