Created by Section 529 of the Internal Revenue Code, the 529 College Savings Plan is a qualified state-sponsored program for tax-deferred college savings. With the rising cost of college tuition, a 529 Plan has become an important tool for saving for future education expenses.
Filice has developed strategic relationships with several local third party administrators to assist with complex administrative and compliance issues.
Benefits to Plan Sponsor
Easy to implement
Cost effective employee benefit
Very little administrative burden
Allows employees to access a more favorable share class
Benefits to Employees
Tax free growth on investment earnings
Investment flexibility
High contribution limits
Allows participants to keep up with the rising cost of college
