Two New Federal Bills Seek to Expand Usage of 529 Plans

By Michael Santo, COSHRM Legislative Director and Managing Attorney at Bechtel & Santo

Recently, Congress proposed two bills – one in the House, one in the Senate – in an effort to expand what investors can use 529 savings for.

The Freedom to Invest in Tomorrow’s Workforce Act (S. 722 / H.R. 1477) is attempting to expand eligible uses of tax-favorable 529 savings plans to cover costs associated with workforce training and credentialing programs, such as professional certifications. This bill would provide tax-advantaged resources for workers who pursue career growth, mid-career changes or alternative career pathways.   

Seeing the benefits in the passage of this Act – both to individuals/employees and to Colorado SHRM (COSHRM) as an organization that provides continuing education, the COSHRM Board of Directors recently voted to sign a letter of support for this proposed legislation. Those interested in doing the same, can follow this link for a letter of support template, or follow this link to learn more about how to get involved in supporting this initiative in Colorado.

COSHRM is the governing council for six local Colorado chapters as well as all SHRM at-large members in the state. We invite you to take advantage of the resources and events being offered by our SHRM-affiliated chapters.

Interested in joining a local chapter? See the bottom of this email for more information.

Building a Talent Pipeline (K-12) - Today!

October 19 | 3:30pm - 4:45pm

Presented by Colorado Springs SHRM | Members FREE; Non-Members $15

Virtual event

Boulder HR Summit

October 20 | 8:00am - 4:00pm

Presented by Boulder Area HRA | Members $95; Non-Members $140; Students $75

In-person event in Lafayette, CO

Communication Skills for Leaders on How to Talk to Someone in Distress

November 8 | 12:00pm - 1:30pm

Presented by Northern Colorado HRA | Members $25; Non-Member $35; Premium Members FREE

In-person event in Fort Collins, CO

Elevate Workplace Wellbeing: A New Framework for Resilience & Engagement

November 8 | 12:00pm - 5:00pm

Presented by Mile High SHRM | Members $25; Non-Members $40;

Select package holders and Students FREE

Virtual event

Crucial Conversations Highlights (info to be posted soon)

November 14 | 9:00am - 11:00am

Presented by High Country HRA | Members FREE; Non-Member $35

Virtual event

Recruiting Gen Z: What You Need to Know

November 15 | 11:30am - 1:00pm

Presented by Western Colorado HRA | Members FREE; Non-Members $20

In-person event in Grand Junction, CO with virtual option available

Below is a sponsored post. Interested in advertising in the COSHRM Connection?

Email info@coshrm.org for more information.

Empower your employees to save and pay for higher education!

CollegeInvest 529 plans are tax-advantaged savings accounts for education expenses, covering college, trade school and apprenticeships. Our program is offered at no cost to the employer or employee.

employers@collegeinvest.org

(303) 376-8804

www.collegeinvest.org/employers