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Products December 6, 2003
ADP Unveils Payroll Deduct for 529 Plans
June 24, 2002 (PLANSPONSOR.com) - Automatic Data
Processing (ADP) will soon make it easier for some
participants to save into a 529 college-saving program
through payroll deduction.
Reported by Fred Schneyer
ADP’s Employer Services division, a payroll-services, benefits administration and human resources systems provider, is piloting the new program with its current payroll clients as well as with the CollegeBoundfund 529 plan in certain areas.
The company said in an announcement that it plans to make the program available nationally in September.
In early fall, ADP also intends to introduce its ADP 529
Partners Program. Through this initiative, ADP will extend
its payroll-deduction program to other financial
institutions that are 529 providers/administrators. ADP
said that would allow its 500,000 payroll clients easier
access to 529 plans.
For more information about ADP’s payroll deduction program
visit the company’s
Web site
.