Minnesota College Savings Plan

Employers & Organizations

Join the 300+ companies participating in MN 529 at Work

Families understand the lifetime benefits of a higher education. With the rising costs of tuition and other college expenses, helping your employees save for this future investment is a wonderful benefit to offer.

How to Get Started

Administering the Minnesota College Savings Plan (MCSP) in your workplace is free and easy – get started by learning more below or download the Employer Payroll Guide.

LEARN ABOUT MN 529 AT WORK

A New Employee Benefit at No Cost to You

You want more ways to differentiate and enhance your employee benefits package. With automatic payroll direct deposit, your employees get a hassle-free opportunity to save for their children’s higher education costs with low, budget-friendly minimums that make saving easy. And the best part? It costs you nothing and creates no additional administrative burdens. In fact, we’ll do all the work.

Check out the step by step payroll guides and free digital tools to help introduce MCSP to your employees.

SPEAK WITH A CONSULTANT

Call Us: 1-877-338-4646

Monday to Friday
7:00 AM to 7:00 PM CT

Chris McLeod

Chris McLeod
MCSP College Savings Consultant
952-830-3127
Chris.mcleod@tiaa.org

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READ MORE ABOUT THE MINNESOTA COLLEGE SAVINGS PLAN

You’re probably familiar with 401k or 403b plans for retirement. A Minnesota College Savings Plan is similar, but it’s used to save for higher education. With tax advantages for Minnesota residents, an easy-to-use digital interface and 11 investment options, Minnesota makes saving affordable and accessible. (*Limitations apply.)

 

College Savings is an issue families care passionately about. Make MCSP a critical addition to your Financial Wellness program. 

WHY OFFER MN 529 AT WORK TO YOUR EMPLOYEES

College Savings – A critical addition to your Financial Wellness program


A Passionate Concern of Your Employees

It’s an understatement to say that college savings is an important financial goal for families with children. “We see it firsthand every time we host a workshop for employees,” said Chris McLeod, Tuition Financing Consultant with TIAA-CREF Tuition Financing, Inc. “We are talking about an issue that is top of mind for parents, grandparents, aunts, uncles etc. Seeing the next generation succeed is very near and dear to the heart.”

Families understand the importance of higher education to the future of their children. College grads earn an average of 63%1 more over the course of their lifetimes, they are half as likely to be unemployed, and for many families it is the gateway to the American Dream.

A Growing Problem

College is becoming less affordable, tuition is increasing faster than the consumer price index and outpacing available student aid.1 For example, a child born today can expect to pay $280,908 for 4 years of study at a public institution and an astounding $562,592 for a private college.2 Consequently, student loan debt has skyrocketed. In fact, average debt for a college graduate is now $37,1723 with no sign of improvement.


Sources:
1Strategic Insight 2018 529 Plan Industry Analysis
2At the time of graduation. Strategic Insight 2018 529 Plan Industry Analysis


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