Effective Sept. 1, Emory will offer employees an opportunity to
participate in Georgias 529 College Savings Plan (also known
as the Georgia Higher Education Savings Plan). The plan is managed
by TIAA-CREF, and contributions can be made through payroll deduction.
The new plan allows employees to save for college for themselves
or for other family members by investing in a variety of funds,
including managed allocation, aggressive managed allocation, 100%
equity, balanced fund and a guaranteed option. These choices vary
in their investment strategies and degrees of risk, allowing participants
to select an option, or a combination of options, that best fits
their needs and investment philosophy.
Parents, grandparents, relatives and friends at any income level
may open a Georgia 529 account or contribute to an already established
529 plan for a beneficiary. If the original beneficiary decides
not to continue his or her education, funds may be transferred in
to other family members of the original beneficiary.
Investment earnings grow free of federal and state taxes. In addition,
the funds are exempt from federal and state income taxes upon withdrawal
provided they are used to pay for qualified educational expenses.
These expenses include tuition, room and board, books, required
supplies, and equipment.
Funds in Georgias 529 Plan can be used to pay for these qualified
higher education expenses at thousands of colleges, universities,
vocational and technical schools, or graduate schools in Georgia
or anywhere in the U.S., even at some schools abroad.
Human Resources is sponsoring three Saving for College workshops:
Wednesday, July 31, noon2 p.m., Business School Auditorium
Thursday, Aug. 8, 10 a.m.noon, Grady Hospital, Oppenheimer
Monday, Aug. 12, 24 p.m., Oxford Colege, Library Seminar
Brochures detailing the 529 College Savings Plan brochure will
be mailed. For more information, contact the benefits department