As an employer, you want to offer a competitive suite of benefits while keeping administrative costs at a minimum. One benefit that can accomplish both is a payroll direct deposit program for a 529 college savings plan, like the SSGA Upromise 529.1

When you offer the SSGA Upromise 529 as a benefit, you can give your employees the opportunity to help their children, grandchildren, or even themselves have a better future.

Payroll direct deposit for college savings1

For as little as $15 per pay period, your employees can save for their children's and grandchildren's, future education. They can even save for their own re-training and career development. Best of all, you can offer the SSGA Upromise 529 through payroll direct deposit at no cost.

No extra administrative burden

We know that corporate HR and Payroll departments have overflowing workloads. That's why we've made the SSGA Upromise 529 payroll direct deposit benefit simple to administer. With online registration (which the employee completes him/herself), there is only one form to cross your desk. We use the same ACH direct deposit system that you are probably already using. (NOTE: 529 payroll deductions use after-tax dollars.)

Institutional Relationship Manager: Your on-site connection

Our on-site Institutional Relationship Managers are knowledgeable professionals who can assist you before -and after - you put a payroll direct deposit program in place. They can also answer questions from your employees about the importance of saving for higher education.

Depending on your needs, our Institutional Relationship Managers can help you develop a strategy to effectively communicate this exciting new benefit to your HR/Payroll department and/or to your employees. These professionals can offer all the resources you'll need to get started:

  • Discussing the realities of paying for higher education and the benefits of a 529 plan
  • Assisting HR/Payroll departments with initiating payroll direct deposit
  • Leading workshops for employees on the importance of saving for college and the benefits of the SSGA Upromise 529
  • Staffing benefits fairs
  • Providing educational materials for employees

Events calendar

The SSGA Upromise 529 Plan has representation at these upcoming events and conferences. If you would like a representative to attend your company's event, fill out the Online Request Form.

Contact us

Learn more about how we can help you offer the benefit of college savings to your employees:

Resources: Let us help you

To make this benefit as easy as possible, we are pleased to make the following resources available to you.  Our Employer Kit includes a number of resources for your company.

1 A plan of regular investment cannot assure a profit or protect against a loss in a declining market.



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Reach out to the SSGA Upromise 529 Plan


The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon.

The statements and opinions expressed are subject to change at any time, based on market and other conditions. State Street cannot guarantee the accuracy of completeness of third party statements or data.

Investing involves risk including the risk of loss of principal. Investment returns will vary depending upon the performance of the Portfolios you choose. Except to the extent of FDIC insurance available for the Savings Portfolio, you could lose all or a portion of your money by investing in the Plan, depending on market conditions. Account Owners assume all investment risks as well as responsibility for any federal and state tax consequences.

ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETFs’ net asset value. Brokerage commissions and ETF expenses will reduce returns.

The SSGA Upromise 529 Plan (the “Plan”) is administered by the Board of Trustees of the College Savings Plans of Nevada (the “Board”). Ascensus Broker Dealer Services, LLC. (ABD) serves as the Program Manager. ABD has overall responsibility for the day-to-day operations, including distribution of the Plan and provision of certain marketing services. State Street Global Advisors (SSGA) serves as Investment Manager for the Plan except for the Savings Portfolio, which is managed by Sallie Mae Bank, and also provides or arranges for certain marketing services for the Plan. The Plan’s Portfolios invest in either (i) Exchange Traded Funds and mutual funds offered or managed by SSGA or its affiliates; or (ii) a Federal Deposit Insurance Corporation (FDIC)- insured omnibus savings account held in trust by the Board at Sallie Mae Bank. Except for the Savings Portfolio, investments in the Plan are not insured by the FDIC. Units of the Portfolios are municipal securities and the value of units will vary with market conditions.

Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.

For more information about the SSGA Upromise 529 Plan (“the Plan”) download the Plan Description and Participation Agreement or request one by calling 1-800-587-7305. Investment objectives, risks, charges, expenses, and other important information are included in the Plan Description; read and consider it carefully before investing. Ascensus Broker Dealer Services, LLC. (“ABD”) is distributor of the Plan.


Please Note: Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program. You should also consult your financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to contact directly your home state’s 529 college savings plan(s), or any other 529 plan, to learn more about those plans’ features, benefits, and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.

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