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HVBF Monthly Meeting - Human Resources Roundtable Host: Legg Mason Attending: Dennis Carter, Legg, Mason Thomas Monnert of Alliance Capital led our discussion of college savings plans. With college costs spiraling at the rate of 5.6% annually (Ivy League at 11%), the need exists for a plan to meet those expenses when they arrive. Family planning tends to drastically underestimate these costs and this is discovered, all too often, when the need arises. State sponsored 529 Plans offer an effective way for you to offer your employees the opportunity to save for college expenses through payroll deduction. Although there are other ways to save, the 529 Plan offers flexibility while retaining control over the funds invested. Other plans may not offer these features. Studying plans offered by several states can help you decide on the best state plan for your company to use. Under some state plans, you need not be a resident to qualify although many offer better plans to residents. You should consult with your advisers about your interest in this benefit. For more information eMail Tom at thomas_monnerat@acml.com or visit website www.collegeboundfund.com. |