With increasing priority placed on higher
education in the United States, employees are continuously looking for workplaces that provide ways to prepare their children for college.Employers not utilizing OCSP at Work are losing out on a no-cost, administration-free benefit that offers employees an easy way to save for their child’s college fund.
According to World at Work, an overwhelming 75% of all workers believe employers should offer help with college, an opportunity often missing from benefit packages.1 Through OCSP at Work, automatic payroll direct deposit to an employee’s Oklahoma 529 college savings account, provides families a hassle-free way to increase their financial security through their employer and elevates the importance of higher education for families.
The no-cost benefit works similarly to a 401(k) plan, as contributions are taken directly from an employee’s paycheck and into their OCSP account(s). Employees can choose a monthly dollar amount to deduct, keeping higher education savings top of mind as a financial goal for the future of their children and other loved ones.
“OCSP at Work offers the opportunity to enhance employee benefits,” said State Treasurer Randy McDaniel. “The Oklahoma 529 College Savings Plan can help employees accomplish their goals and see future generations succeed.”
The program is free and easy to implement within your workplace. It creates no additional administrative burdens and OCSPhandles the program for you. With benefits season upcoming, many companies are looking to differentiate their offerings to retain current employees and attract new ones.
Additionally, from now until Dec. 31, 2020, employees can take advantage of a $25 match offer when opening an account and contributing at least $25 for three straight months.
“Contributions to a college savings plan show children the importance of prioritizing higher education,” added McDaniel. “With OCSP at Work, employers can help their workers meet an important financial goal paying for their child’s college education.”
To sign up, employers can visit ok4saving.org/plan/everyone-employers or call (877) 654-7284.