As you may recall, Congress has expanded 529 college savings plans to cover tuition at elementary and secondary public, private, and religious schools. The new law became effective with any distributions made after December 31, 2017. That means you can now use your Mississippi Affordable College Savings (MACS) plan funds to pay your child’s tuition before he or she gets moves on to that post-secondary degree.
With this change, offering College Savings Mississippi through payroll deposit is an even better benefit to your employees. We have more than 150 employers across Mississippi who already offer their employees the ability to save for their children’s future through automatic payments from their paycheck, making it easier to put that money away each month.
According to the
Wall Street Journal
, this “is a simple and inexpensive way to help attract and retain employees” and an “effective way to strengthen company culture.” And, that was before Congress allowed your 529 plan dollars to be used for K-12 education!
Our College Savings Mississippi staff can help your HR department set it up easily and at no cost to your company. Contact them today at 601-359-5255 to find out how you can help your employees start saving for their children’s education.