Workers are stressed about their personal finances and want better benefits to help.
- Employees’ number one source of stress is personal finances. Regardless of age or life-stage, a focus on finances tops the list as the biggest concern employees have day to day.
- Two in three employees say their benefits package helps reduce their financial stress.
- One in three employees admit to being less productive at work because of financial stress.
- Better benefits is the third highest request on employees’ wish lists — behind salary and a positive work environment — of what they need to navigate their work-life worlds and succeed at work. Additionally, three in 10 employees would actually trade a higher salary for better benefits.
The ScholarShare 529 Workplace Savings Program can be added to an organization’s existing benefits lineup at no cost, giving their employees access to a top-rated, low cost 529 college savings plan, and the easy option of contributing to a college savings plan via payroll direct deposit. Nearly 1,000 California employers are already providing a workplace college savings plan, and more employers continue to do so every day.
[1] Met Life’s 17th Annual US Employee Benefit Trends Study 2019: https://www.metlife.com/employee-benefit-trends/ebts-thriving-in-new-work-world-2019/
Learning Objective:
- How important saving for college is to your employees
- How the ScholarShare 529 Workplace Savings Plan can help
- How partnering with ScholarShare 529 is free and easy for you
- FAQs
- What happens next
Saving for college with the ScholarShare 529 plan can be worth thousands of dollars in tax advantages for your employees. The ScholarShare 529 Workplace Savings Program lets you provide this valuable benefit to your employees, at no cost to your organization.
Contact Scholarshare at: workplace529@scholarshare.com or visit us at https://www.scholarshare529.com/employer/ for more information.
Omar Marquez joined TIAA in 2017 as a Consultant for TIAA Tuition Financing, Inc. He devotes a substantial portion of his time working with employers in offering the Scholarshare 529 Workplace Savings Program as a financial wellness benefit to their employees. He has over thirteen years of financial services experience, serving in various roles and capacities ranging from mortgage banker to wealth management advisor.
Omar double majored in Political Science and Organizational Leadership, and minored in Pre-Law from Azusa Pacific University. In his spare time Omar is passionate about volunteering and supporting charitable causes, particularly homelessness alleviation, youth mentorship programs, and leadership development.