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More parents than ever are trying to save for their child’s higher education. But sadly, only 1 in 4 are taking advantage of tax benefits that can be worth thousands of dollars.
By offering a payroll direct deposit for ScholarShare 529 you are giving your employees access to unsurpassed tax benefits for California families savings for college.
This program is available at NO COST to employers and is exceptionally easy to set up.
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Total US College Savings surpassed $1 Trillion for the first time ever in 2016.
88% of Californians saving for a child's college education say it is one of the most important things they can do as a parent.
43% say they are nervous about meeting that goal.
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Consider the investment objectives, risks, charges and expenses before investing in the ScholarShare College Savings Plan. Please call toll-free 1-800-544-5248 or click here for a Disclosure Booklet containing this and other information. Read it carefully. Investments in the plan are neither insured nor guaranteed and there is the risk of investment loss.
Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits such as financial aid, scholarship funds or protection from creditors that are only available if you invest in that state’s 529 plan.
Consult your legal or tax professional for tax advice, including the impact of the new federal tax changes. If the funds are not used for qualified education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply. Non-qualified withdrawals may also be subject to an additional 2.5% California tax on earnings.
The ScholarShare College Savings Plan is offered by the State of California. TIAA-CREF Tuition Financing, Inc. (TFI), program manager. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA and SIPC, distributor and underwriter for ScholarShare College Savings Plan.
The Plan Web site is for informational purposes only, and does not constitute an offer to sell or solicitation of an offer to buy any security that may be referenced on the site. Such offer or solicitation can be made only through the Disclosure Booklet.
The Plan Web site contains links to other Web sites. Neither the Plan nor TFI and its affiliates are responsible for the content of those other Web sites. The accuracy of information on those sites cannot be confirmed.
All social media platforms are managed by the State of California.
