A Plan for Everyone:
Employees

When saving for your child’s college is as convenient and automatic as taking your retirement or healthcare deductions, saving is a lot easier.

On October 28, 2019, MNSAVES changed to a new administrative platform.

Any direct deposit contributions established under the old record keeper will be rejected and returned unless direct deposit contributions are re-established. Impacted account owners who contribute through payroll direct deposit should have received a letter containing instructions to update payroll instructions. If you did not receive this letter, please contact us at 1-877-EDU 4 MN (1-877-338-4646).

College Savings Made Easy

Great news! The Minnesota College Savings Plan (MNSAVES) is available as an employee benefit. You’re probably familiar with 401k or 403b plans for retirement. An MNSAVES account is similar, but it’s used to save for higher education. With low fees, and tax advantages for Minnesota residents, MNSAVES makes saving affordable. (*Limitations apply.) Because contributions can be made directly from payroll with direct deposit, it’s simple, too.

It only takes about 15 minutes to enroll. So let's get rolling!

ABOUT MNSAVES

For so many families, the Minnesota College Savings Plan is a smart choice. Here are just a few reasons why:

  • State tax benefits
  • 100% tax-free growth potential
  • Financial aid friendly
  • Use at eligible schools anywhere in the US or abroad

Plus we are here to help every step of the way.


FAQ

REGISTER FOR A CONSULTATION OR WEBINAR

If you would like help or have additional questions, the Minnesota College Savings Plan offers free consultations with a college savings specialist. You can schedule an in-person consultation in our local office in Bloomington, MN, a phone consultation or attend a webinar.

GET STARTED
1

Set up your Minnesota College Savings Plan account

  • Open a new account
    ENROLL
  • Add Direct Deposit to an existing MNSAVES account
    [ Skip to Step 2 ]
  • Rollover an existing 529 account from elsewhere
    DOWNLOAD ROLLOVER FORM

Tip: Be sure to select "Payroll Direct Deposit" as the method of funding your account in the "Initial Contribution" section of the New Account Application.

2

If you wish to fund your account by payroll direct deposit, you can do so by enrolling online.

  • Download our Payroll Direct Deposit Guide for everything you need to know about establishing payroll direct deposit with simple directions and tips for enrolling online or by mail.
    DOWNLOAD
  • You may also set up recurring contributions from a bank account
    LEARN MORE

Tip: The MNSAVES Payroll Direct Deposit Form must be processed by MNSAVES before the first payroll direct deposit contribution (may take up to 10 business days).